U.S. Airline Buys Air N.Z. Electra

Press, Volume CVIII, Issue 31600, 10 February 1968, Page 1

U.S. Airline Buys Air N.Z. Electra

(New Zealand Press Association)

AUCKLAND, February 9.

Air New Zealand has sold one of its three turbo-prop Electra aircraft to an American company for more than SUSIm, the general manager (Mr F. A. Reeves) announced today.

Mr Reeves said the Electra was first offered for sale last July and until recently had been in service on Air New Zealand routes.

Air New Zealand bought the Electra for $US2im in 1959.

“Last month the company received its third DCB and the fourth will be delivered later this month,” Mr Reeves said.

“For this reason it is no longer necessary for the airline to retain all its three Electras. Two will be retained to enable it to maintain operations at Wellington abd Melbourne—two cities with airports which are unable to take jets.” The sale of the Electra to the California Airmotive Corporation was “most satisfactory,” said Mr Reeves, “particularly in view of the present oversupplied world market for turbo-prop planes.”

He could not reveal the selling price, but he indicated that the sale would exceed SUSIm for the plane and some spare parts. The Electra was expected to leave Auckland for California in about a week.