Schwartz flies to res­cue

Travel Daily - - News -

HIGH pro­file NSW hote­lier Jerry Schwartz has taken a stake in the com­pany which op­er­ates Syd­ney Sea­planes, with the move set to see a sig­nif­i­cant in­crease in ser­vices out of Rose Bay.

Schwartz will also add his own pair of am­phibi­ous air­craft to the Syd­ney Sea­planes fleet, lift­ing the to­tal com­ple­ment to six, with ex­ist­ing share­hold­ers Aaron Shaw and Ken Gaunt con­firm­ing the in­vest­ment would pro­vide a boost to the com­pany.

On New Year’s Eve 2017 Syd­ney Sea­planes was rocked by the crash of one of its air­craft into the Hawkes­bury River, killing all six peo­ple on board.

The com­pany con­firmed the in­ci­dent had been a drain on its cash flow but Shaw and Gaunt said the busi­ness would have sur­vived with­out the in­jec­tion of the third share­holder.

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