THL sells flight divisions

The country's largest tourism company, Tourism Holdings, has sold two of its aviation operations as it continues a restructuring programme to quit what it considers its non-core businesses.

THL yesterday announced the conditional sale of The Helicopter Line and its 50 per cent shareholding in Heli-Holdings. The deals are due to be settled on August 30.

The Helicopter Line is to be sold to Mark Quickfall, owner of Totally Tourism and Milford Sound Scenic Flights. No job losses are expected under the new ownership.

THL's stake in Heli-Holdings will be taken up by the company's existing partner in the business, Airwork (NZ). Heli-Holdings owns and maintains the equipment used by The Helicopter Line.

THL said the sales would result in a small profit to the company.