25 September 2013

Golden Wings too heavy to fly

Michael Towarek's flying school, Golden Wings Flight Training, is now in the hands of Christchurch liquidators Rhys Cain and Bruce Gemmell, put there by law firm Duncan Cotterill over an unpaid bill for about $7000. Cain said he was surprised that Towarek had let the liquidation go ahead. "For whatever reason he has decided not to pay them and the company was tipped into liquidation." But Towarek dismissed the liquidation. Today he said Golden Wings' poor performance showed the difficulty in finding suitable people to run his New Zealand companies. He tried to help people, but had found that in many cases people he hired or funded had sat back to just "click the ticket". Towarek said he had been hoping to quietly wind down Golden Wings Flight Training and close it, but a creditor had stepped in with the liquidation proceedings. He also intended to close his charter airline and the Beechcraft was for sale. The same day that the liquidation proceedings were served - July 24 - he set up Pacific Pilot Ltd, with another Nelson man, David Marriott, who also has Nelson Pilot Training Ltd in a 50-50 partnership with James Campbell, of Kina Beach Rd. He owns Golden Wings Ltd - a charter airline which advertises executive travel throughout New Zealand using a plush Nelson-based Beechcraft 350, bought new in 2010. This year's price is US$6.12m ($7.34m).

Golden Wings' Beech Super King Air 350 ZK-MMM taken at Ardmore on 31 May 2011

For the full article see : http://www.stuff.co.nz/business/money/9208016/Liquidators-to-talk-to-high-flyer

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