Tasman Pacific Airlines creditors to receive dividend

Airline Industry Information, Oct 1, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

The liquidators of New Zealand's Tasman Pacific Airlines of NZ Limited have announced that they are to pay the airline's unsecured creditors an interim dividend of 10 cents in the dollar (NZD).

The dividend will be made to creditors during the week beginning 4 October 2004. Liquidator Jeff Meltzer said that the dividend can be paid thanks to the settlements and realisations made to date.

The airline's liquidation is expected to be completed during 2005 after its receivership is finalised, subject to the outcome of Tasman Pacific Regional Airlines Limited's pooling application, reports Scoop.co.nz.

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