The Collapse
On 16 June 2001 the airline was placed into voluntary liquidation and PricewaterhouseCoopers was appointed to manage the company. Ansett announced on 27 June that they would lease eight of the company's aircraft and restart 16 routes effective immediately. On 14 September 2001 Ansett itself collapsed, again halting Flight West services. After extensive restructuring, the airline was offered for sale on 29 September 2001. In an effort to revitalise the airline, the Australian Government announced on 6 November that they would underwrite the airline's operating costs for three months. The airline began flights between Gladstone and Brisbane on 17 November 2001. After the airline failed to sell, it was placed into Voluntary Administration on 4 December 2001.
On 16 April 2002 it was announced that Queensland Aviation Holdings had purchased Flight West Airlines and intended to restructure the company under a new name, Alliance Airlines. Most of the assets of Flight West, including the Fokker jets were purchased and the Embraer EMB 120s were sold. Alliance Airlines operated the Fokker 100s on selected charter routes from Brisbane, Townsville and Mount Isa for a period of time before suspending these regular services and operating ad hoc charter services.
Read more about this topic: Flight West Airlines
Famous quotes containing the word collapse:
“The world was a huge ball then, the universe a might harmony of ellipses, everything moved mysteriously, incalculable distances through the ether.
We used to feel the awe of the distant stars upon us. All that led to was the eighty-eight naval guns, ersatz, and the night air-raids over cities. A magnificent spectacle.
After the collapse of the socialist dream, I came to America.”
—John Dos Passos (1896–1970)
“I confidently predict the collapse of capitalism and the beginning of history. Something will go wrong in the machinery that converts money into money, the banking system will collapse totally, and we will be left having to barter to stay alive. Those who can dig in their garden will have a better chance than the rest. I’ll be all right; I’ve got a few veg.”
—Margaret Drabble (b. 1939)