Australian charter airlines OzJet has gone into voluntary administration.
I spoke today to the airline's CEO, Willie O'Neill, who told me that the carrier's chairman put the carrier into administration on Wednesday 20 May. The chairman is Nicholas Leach who is also CEO of HeayLift Cargo Airlines which bought OzJet last May from Paul Stoddart, the guy behind UK-based charter firm European Aviation. Stoddart must be so happy he sold out of OzJet when he did.
OzJet has a fleet of four Boeing 737-200s. These are quite old aircraft so the carrier really needs to get newer equipment.
It has been struggling for some time in what is, undoubtedly, a shrinking charter market in Australia.
Airlines downunder have been dropping like flies, so to speak, with SkyAirWorld and MacAir going into administration earlier this year.
I understand that OzJet had been trying for some months to find a new owner. But with old equipment and the way the market is at the moment, it is going to be hard to find someone with the guts to invest in an Aussie airline right now.