FLIGHT WEST AIRLINES RESTRUCTURED, REVITALISED AND READY TO FLY AGAIN

Flight West Airlines, the Queensland regional carrier placed in members voluntary liquidation in June, has today been offered for sale as a restructured, revitalised and fully integrated airline with potential for development as a national carrier.

The Brisbane-based airline, currently under the control of liquidators PricewaterhouseCoopers in Brisbane, has its own current Air Operators Certificate.

The Queensland Government has provided funding for the Air Operators Certificate for a minimum of 30 days, providing the opportunity for Flight West to continue flying, and to be sold intact.

The restructured entity has been operating for more than two months, performing contract services in conjunction with Ansett Australia, and a range of passenger charters - including the high profile contract to carry the Brisbane Lions AFL team to Melbourne for this weekend's Grand Final against Essendon.

PricewaterhouseCoopers is now offering Flight West as a turnkey operation, with potential to be developed into a national carrier, or integrated into any new national airline, and has urged any organisations or individuals considering entering the airline industry not to overlook Flight West as a stand-alone option, or as part of a broader strategy.

Three months ago, Flight West Airlines ceased flying and entered members voluntary liquidation.

In the then prevailing economic conditions, the company faced significant costs, especially on certain routes, which prevented it from competing effectively in the markets to which it flew. But now, after significant restructuring, Flight West is a lean, focused and healthy air transport company with excellent potential for growth.

Flight West is based at Brisbane Airport, where it has its own maintenance and administration facilities - but it is not restricted only to Queensland, as evidenced by the Brisbane Lions charter and other recent activities.

Flight West's fleet comprises of two 91-seat Fokker 100 twinjets, two 70-seat Fokker F28-4000 jets, three 30-seat Embraer Brasilia turboprops and three 19-seat BAE Systems Jetstream 32EP aircraft - enabling it to fly major east coast routes, as well as a range of regional routes.

The airline has tightly controlled costs, high productivity, its own maintenance capability - and most importantly, its own Air Operators Certificate. It can start flying almost immediately, either in its own right or, with CASA approval, on behalf of other entities.

Flight crew and maintenance staff all have current endorsements on the aircraft types operated by the airline, enabling them to fly immediately.

The fleet has been reduced from 16 aircraft to 10, with one of the F28 jets currently providing contract flights to Queensland's Phosphate Hill and Century Zinc resource sites on behalf of Western Mining Corporation and Pasminco.

Aviation specialist Aeromil (Australia) Pty Ltd has been appointed by PricewaterhouseCoopers as the exclusive agent to market the Flight West aircraft, spare parts, hangar and ground services equipment on behalf of two companies in liquidation - Flight West Airlines Pty Ltd and Airline Facilities Pty Ltd.

Expressions of interest are sought by Monday, 8 October, 2001, through Aeromil Managing Director Mr Steve Padgett on tel 07 5448 8700 or fax 07 5448 7070.