Tas Air in trouble AGAIN
Join Date: May 2002
Location: Permanently lost
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I believe that they are to use the Metro on the run but just what airports are to be used on the "mainland" is still not clear, nor is the schedule. They were to start in July. Watch this space, as they say.
Tas Air aircraft were put up for tender. Not sure if any decisions have been made about them yet.
Tas Air aircraft were put up for tender. Not sure if any decisions have been made about them yet.
From todays Advocate
Regards R W
Airline to lose $450k in Tasair bid | The Advocate
A TASMANIAN airline that did the due diligence to buy voluntarily-liquidated company Tasair says it now expects to write-off the $450,000 it spent on the process, which has been aborted.
Airlines of Tasmania managing director Donald Wells confirmed yesterday his company, which flew out and into Wynyard, Launceston and King Island, had spent $450,000 on a potential purchase of Tasair, which went into voluntary liquidation in February.
Mr Wells said he "thought the risk was low but it was high".
Airlines of Tasmania is one of 162 creditors owed a total of $3.3 million from Tasair.
"We were in the process of doing due diligence of buying the company and we bought some of their fixed and floating charges but unfortunately the due diligence showed up a situation that differed from the balance sheet," Mr Wells said.
"We put in an offer subject to due diligence.
"Unfortunately it's unlikely we will get our funds back.
"We are somewhat relaxed about it.
"We knew they had difficulties.
"Our company is financially quite strong."
The secured creditors included the Department of Economic Development ($1.6million) and Westpac ($645,000).
Mr Wells said it was very unlikely even the secured creditors would be repaid in full.
It can also be revealed that Tasair owed the government other money, including a further $27,786 (interest) to Economic Development.
Also listed as unsecured creditors are King Island Council, TasPorts and the Burnie Airport Corporation.
Tasair was placed in voluntary liquidation on February 3.
Fifteen full-time and eight casual jobs were lost.
Tenbensel & Dee Chartered Accountants were appointed liquidator. Yesterday the liquidation company said the list of creditors had increased from 99 to 162, however it was unclear how much of the debt would be repaid.
The increased cost of fuel, competitors and regulation compliance costs were blamed for the collapse of Tasair.
Regards R W
Airline to lose $450k in Tasair bid | The Advocate
A TASMANIAN airline that did the due diligence to buy voluntarily-liquidated company Tasair says it now expects to write-off the $450,000 it spent on the process, which has been aborted.
Airlines of Tasmania managing director Donald Wells confirmed yesterday his company, which flew out and into Wynyard, Launceston and King Island, had spent $450,000 on a potential purchase of Tasair, which went into voluntary liquidation in February.
Mr Wells said he "thought the risk was low but it was high".
Airlines of Tasmania is one of 162 creditors owed a total of $3.3 million from Tasair.
"We were in the process of doing due diligence of buying the company and we bought some of their fixed and floating charges but unfortunately the due diligence showed up a situation that differed from the balance sheet," Mr Wells said.
"We put in an offer subject to due diligence.
"Unfortunately it's unlikely we will get our funds back.
"We are somewhat relaxed about it.
"We knew they had difficulties.
"Our company is financially quite strong."
The secured creditors included the Department of Economic Development ($1.6million) and Westpac ($645,000).
Mr Wells said it was very unlikely even the secured creditors would be repaid in full.
It can also be revealed that Tasair owed the government other money, including a further $27,786 (interest) to Economic Development.
Also listed as unsecured creditors are King Island Council, TasPorts and the Burnie Airport Corporation.
Tasair was placed in voluntary liquidation on February 3.
Fifteen full-time and eight casual jobs were lost.
Tenbensel & Dee Chartered Accountants were appointed liquidator. Yesterday the liquidation company said the list of creditors had increased from 99 to 162, however it was unclear how much of the debt would be repaid.
The increased cost of fuel, competitors and regulation compliance costs were blamed for the collapse of Tasair.
