Origin founder still hopeful

Robert Inglis

A "fire sale" of Origin Pacific assets was not an option and the struggling regional airline could yet trade its way out of financial difficulty, founder Robert Inglis said yesterday.

"We've still got a freight business which is significantly profitable," he said. "Our freight customers are remaining staunch."

Origin Pacific pulled the plug on its passenger services last Thursday leaving 260 workers without jobs.

Inglis confirmed several potential buyers were looking at the freight business but no decisions had been made.

He said it was just a matter of making the most responsible decision for creditors.

Inglis also refused to concede it was the end of the line for the passenger service although a revival was unlikely as long as Air New Zealand maintained such market dominance.

History suggested that conditions in the aviation sector could change dramatically and quickly. "I have little doubt that one way or another that will happen with Air NZ."

Inglis accused the Government of having a double standard when it came to regulating industries.

The Telecom monopoly was in the process of being dismantled "and yet here we have a business in which the Government owns 80 odd per cent and they seem quite happy allowing [it] to brutally use its dominant position", Inglis said.