Overseas Airline Interest In Feeder Service Plan

Press, Volume XCIX, Issue 29336, 15 October 1960, Page 15

Overseas Airline Interest In Feeder Service Plan

Overseas airlines,, including Ansett in Australia, have shown interest in the proposal of South Pacific Airlines (N.Z.), Ltd., to establish an internal air service in New Zealand. The company plans to link Central and North Otago to the rest of the country by a direct service.

The directors of the company were “very hopeful” of obtaining the capital required for the venture, the chairman of directors (Mr C. L. Edwards,) said. He confirmed that discussions had been held with ' Ansett, and a number of overseas airline interests, including ‘some in the United Kingdom and Hawaiian Airlines, from whom the company has an option of aircraft for its service.

“There was a stage when the picture looked somewhat depressing, but it was far more prom-

ising now,” Mr Edwards said. .He said he had been overseas, and a full statemept would ‘■be made later. It is understood that the capital will be over subscribed by the end of the week.

A week ago, according to Captain R. A. L. Anderson, one of the directors, £65,000 had been promised for the company. Since then, £5,000 has been subscribed in Central Otago, with promises reaching a similar amount. The company will require £106,000 to go to allotment on Saturday. The company’s capital will be £120,000. A working committee has been set up in Central Otago to further canvass the area. North Otago and Nelson, which previously supported Trans-Island Airways, have both shown a reluctance to subscribe. Captain Anderson said that considerable support had been received from the Wairarapa. So far, £3OO had been subscribed at Oamaru and a further £250 promised. He felt that if Oamaru would subscribe £lO,OOO, there was every prospect of the comp:any going to allotment. The company was within £25,000 of its target. It was budgeting on carrying initially 40,000 passengers a year on a 57 per cent load factor.