Proposed Australian start-up carrier Aussie Air failed to meet a deadline on 10 October by which it was required to deposit A$10.5 million ($7.6 million) with Qantas to secure tenure sub-leases on terminal space at the key airports of Coolangatta, Melbourne, Perth and Sydney. Qantas has advised the Australian Stock Exchange that it had not received the required bank guarantees or deposits and that all obligations had therefore lapsed. Bryan Grey, former chairman of the col- lapsed Compass Airlines and principal of Aussie Air, was unavailable for comment.
Source: Flight International