Waiting for Takeoff: Air Paradise
SEMINYAK ~ Baliâ€™s Air Paradise Internationalâ€™s plans to bounce back from bankruptcy and relaunch are again on hold as executives at the airline await a local government decision on a buy-in, officials said.
Air Paradise, owned by tourism tycoon Kadek Wiranatha, halted services in November 2005, citing an economic downturn on its then-sole Australia routes.
Earlier this year, the carrier announced it hoped to be back in the air by March, and later said it was in investment discussions with the Bali government, which, it said, had shown interested in acquiring a controlling stake.
According to airline director Putu Oka Semadi, however, a decision to buy 51 percent of Air Paradise has not yet been made by the government.
â€œThey are still examining the proposal,â€ he said.
If it goes ahead, the deal would be worth some Rp150 billion (US$16.4 million), airline officials have said.
Air Paradise has said it is also seeking investment from the private sector, and is in talks to lease a number of aircraft.Filed under: The Island