Aviation veteran Hugh Jones is on a mission to save former NZX-listed Airwork Holdings from the clutches of liquidation, BusinessDesk reports.
Last month he wrote to the Chinese owner, Zhejiang Rifa Precision Machinery (RPM), saying he was interested in buying back the company once he had a clear idea of what assets were left and the state of its finances.
Until he had that information, he said he could not contemplate what sort of offer he would make.
“There’s some value [in Airwork], but each day it is diminishing,” Jones said, referring to numerous recent announcements about Airwork to RPM investors.
Jones bought into the company in 1984. A few years later, he bought out Allan Hubbard’s stake and rapidly overhauled the business.
