Heli Aust

[Nigel Osborn]

A friend told me today that Heli Aust was in receivership. They seem to have numerous helicopters & fixed wing which I thought would be busy with all these fires & recent floods, so any truth in the rumour??

[What Red Line?]

Heli-Aust etc.

Info below.

SmartCompany - One of Australia's biggest helicopter companies crashes into receivership

A helicopter charter and helicopter engineering maintenance company has entered receivership and is being put up for sale.

An advertisement was placed in The Australian Financial Review today for the sale of the business and assets of the Heli-Aust group, which is based at Bankstown airport.

The group is made up of five businesses: Heli-Aust, Heli-Muster, Aero Support, Heli-Aus Investments and Wieland Helicopter Company and it has less than 30 employees.

Heli-Aust's website says the business is fully Australian owned and is one of the biggest operators of helicopters in Sydney, and one of the largest helicopter companies in Australia, with operations conducted all over the country.

[topendtorque]

I notice where the receiver, according to the fin review article, has listed the AOC as a key asset.

[601]

has listed the AOC as a key asset

The AOC can go with the company, but cannot be sold separately as you could for a helicopter.

[topendtorque]

That's right but one may think that only a raving lunatic would buy an AOC attached to a company in receivership. How many people do you want dropping by to ask for their money?
Besides people can buy what they want but at the end of the day many forget that CASA still have to approve the directorship change.