Buyer found for Flight West

Flight West creditors have voted to sell the Queensland regional airline as a going concern to an unnamed syndicate of four investors, both Australian and overseas.

The administrator says they don't want to reveal themselves until the sale is actually concluded, which will probably be on March 26. The sale price is reported to be $1.8 million.

Flight West went into voluntary liquidation in June last year, owing about $55 million to creditors, with employee entitlements totalling around $6.5 million. It had about 430 staff before going into liquidation.

With a limited staff, Flight West is currently flying mining company charters out of Townsville, flights between Brisbane and Gladstone, and other charter flights on an ad hoc basis.

Virgin Blue's David Huttner said that the carrier was not involved in the syndicate purchasing Flight West but that “we would be open to an approach by the syndicate about forging an alliance”.