Vincent Aviation in receivership...

[Alex T]

The north-west NSW town of Narrabri has lost air services for the second time in less than six months after Vincent Aviation collapsed into receivership and cancelled all flights.
Darwin-based Vincent had won a tender for the monopoly Sydney-Narrabri route from the NSW government in February following the collapse of the previous licence holder, Brindabella Airlines in December.
Brindabella's demise had left five regional towns without any air services and Transport for NSW was forced to reissue tenders in an unprecedented situation.
Qantas regained the licence for the Moree route it had lost a year earlier following a high profile campaign from locals in that town.
Vincent had more recently been awarded the Sydney to Mudgee route licence subject to the safety regulator's approval but the ABC reported that on Monday Vincent had informed Mudgee's council it would not proceed with flights.
BDO's Brisbane office was on Wednesday appointed as the receiver for Vincent, which has ceased trading effective immediately.
The airline had operated nine medium-sized turbo prop passenger aircraft including Beechcraft 1900s and Saab 340s and employed around 80 staff.
Receiver Andrew Fielding said a range of factors, particularly market conditions, had contributed to the company's poor financial position.
"The prudent step was taken by the company's management to cease trading to enhance the recoveries to all creditors," he said. "The company has cancelled all flights and customers should make alternative travel arrangements."
The airline was controlled by a New Zealand company, also called Vincent Aviation.
Transport for NSW said it was aware of reports regarding Vincent Aviation and was currently investigating the issue.
"Vincent Aviation provides services on the regulated Narrabri-Sydney route," a spokeswoman said. "The company has not advised Transport for NSW of any changes to this service."
It is understood QantasLink is likely to step in with relief fares for affected customers.

Read more: http://www.smh.com.au/business/aviat...#ixzz32zwhzSUM

You've gotta feel sorry for the residents of Narrabri, first Brindabella now Vincent.

Thoughts to all the employees affected.

[Rowan McKeever]

Agree completely Alex. Thoughts with the staff of Vincent and their families. Bad news for. Narrabri and Mudgee.

[Jacob L]

Sad day for all at the company,

Another one bites the dust

[Phillippe M]

Also for the Darwin Vincent base too
http://www.ntnews.com.au/news/northe...1226934833297/

[Mark D.]

Unfortunately, this is the problem, when companies cut the pricing to the bone just to get the contracts. There is no fat in the price and failure is imminent. Road transport is the same, hundreds of small operators, all running around turning over money, but none making profits. Qantas should have been awarded the Narrabri contract, and run it in a similar fashion to years ago i.e. SYD-Moree - Narrabri
Just my thoughts

[Andrew Coggan]

VH-VNA departed Sydney at 1830 last night to Townsville for storage.