Airwork faces risk of liquidation

Airwork delisted from the NZX in 2017. (Image: NZME)

Tue, 28 Jan 2025

New Zealand’s largest general aviation company, Airwork Holdings, faces liquidation over a US$83.35 million (NZ$146.35m) plus NZ$230,000 syndicated loan due for repayment by the end of July.Its listed Chinese parent, Zhejiang Rifa Precision Machinery (RPM) told investors in an announcement to the Shenzhen Stock Exchange on Friday that Airwork had begun negotiating with banks but the loan could not be repaid by the due date of July 31.“Airwork had been unable to obtain credit renewal or repay the syndicated loan before it expires thi...

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