Takeover or merger on cards after Airwork posts a $191.6m loss

Chair Jie Wu wrote in Airwork's accounts that its sale of aviation assets to repay debt may lead to a merger or takeover offer. (Image: Supplied)

Denise McNabb

Tue, 06 May 2025

Auckland-based general aviation company, Airwork Holdings, racked up a $191.6 million loss for the year to December 2023, accounts filed nearly a year late at the Companies Office on Monday showed. That fell atop a $253.7m loss in the previous corresponding period and, like the 2022 results, included hefty impairments – this time of $154.6 m on the group’s aircraft assets to align with current fair market conditions. This resulted in a net loss before tax of $155.7m but the derecognition of a deferred tax asset increased t...

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