One of the operators that might have been easily been able to pick up Wellington-Westport and Wellington-Taupo services was Vincent Aviation... Sadly they went into receivership and liquidation last month. Here is the latest on the sale of the company's assets
Wellington-based Vincent Aviation is being sold by the receivers after the company hit financial turbulence last month. Receivers BDO said in a public notice that the "well established company" had a 20-year aviation history with an "impeccable safety record". They have called for offers for the business, which includes a Myanmar-based contract with leased aircraft and company employees based on site, on rotation.
Offers are also sought for three key aircraft with opportunities to take an assignment of leases, or purchase the aircraft outright. Vincent also had a range of stock and tooling for J31 and J32 Jetstream aircraft, and the BAe 146, known as the Whisperjet. BDO said in the 2014 financial year Vincent had revenue of $7.4 million from existing contract charters. Former Aviation New Zealand chief executive Irene King was hesitant when asked if Vincent Aviation, which is in receivership and liquidation, would sell. "It's not a business that leaps off the page at you, but I guess there might be some interest." She said a factor affecting the sale would be details around the Myanmar contract. "How long does that contract have to run in Myanmar, what's it worth, and is that contract actually tied to Vincent Aviation?" It is understood the contract involves an aircraft in the Yangon region providing services to an oil and energy exploration company. King said the failure of Vincent Aviation "was a shame" as it had an impeccable safety reputation and record. "It used to get stellar results from its regulatory audit. That has much to do with the management, systems and processes. "But there is a difference there between delivering impeccable regulatory results and remaining viable in the industry." Vincent Aviation was put into receivership last month after its subsidiary Vincent Aviation Australia, based in Darwin but owned by Vincent Aviation in New Zealand, went belly-up. The Australian business, although a subsidiary, was much larger than in New Zealand and its debts came back to the New Zealand business which it could not handle. Vincent Aviation's wings were clipped after 24 years in service, and more than two million passengers.
There are photos of the Myanmar contract here : http://3rdlevelnz.blogspot.co.nz/2014/08/where-on-earth-is-vincents-vab.html
Offers are also sought for three key aircraft with opportunities to take an assignment of leases, or purchase the aircraft outright. Vincent also had a range of stock and tooling for J31 and J32 Jetstream aircraft, and the BAe 146, known as the Whisperjet. BDO said in the 2014 financial year Vincent had revenue of $7.4 million from existing contract charters. Former Aviation New Zealand chief executive Irene King was hesitant when asked if Vincent Aviation, which is in receivership and liquidation, would sell. "It's not a business that leaps off the page at you, but I guess there might be some interest." She said a factor affecting the sale would be details around the Myanmar contract. "How long does that contract have to run in Myanmar, what's it worth, and is that contract actually tied to Vincent Aviation?" It is understood the contract involves an aircraft in the Yangon region providing services to an oil and energy exploration company. King said the failure of Vincent Aviation "was a shame" as it had an impeccable safety reputation and record. "It used to get stellar results from its regulatory audit. That has much to do with the management, systems and processes. "But there is a difference there between delivering impeccable regulatory results and remaining viable in the industry." Vincent Aviation was put into receivership last month after its subsidiary Vincent Aviation Australia, based in Darwin but owned by Vincent Aviation in New Zealand, went belly-up. The Australian business, although a subsidiary, was much larger than in New Zealand and its debts came back to the New Zealand business which it could not handle. Vincent Aviation's wings were clipped after 24 years in service, and more than two million passengers.
Saw Vincent.s air ambulance Jetstream flying last sunday from Wellington .
ReplyDeleteMay still be used for ambulance work .
LFW is now operated by Air Freight New Zealand
ReplyDelete