Aviation academy’s bid to buy Air HB thwarted
Whanganui’s New Zealand International Commercial Pilot Academy’s (NZICPA) bid to buy pilot training school Air Hawke’s Bay has been voted down.
Hawke’s Bay & East Coast Aero Club (HBECAC) owns Air Hawke’s Bay and held a special general meeting on Wednesday night to discuss the approval of the sale.
Club president Bruce Govenlock told NZME last week that the academy was the preferred bidder and HBECAC had been impressed by the facilities and the professionalism in Whanganui.
The club sought out the interest of potential buyers in New Zealand and overseas after a review of its investment in Air Hawke’s Bay this year.
But yesterday Govenlock said members had elected not to go through with the sale “in its current format”. “In the end, both parties have decided not to proceed with the sale.”
Govenlock said because it was a closed meeting he couldn’t reveal the exact details of the format.
He confirmed last week that the transfer of students from Hawke’s Bay to Whanganui would be part of the deal.
NZICPA was disappointed it wasn’t able to find a deal that worked for both parties, chairman David Rae said.
“We wish Air Hawke’s Bay the very best for the future.”
The pilot academy is owned by Whanganui District Council through its holding company, Whanganui District Council Holdings Limited.