Australia World Airways, the proposed start-up carrier with plans to fly from Melbourne to Sri Lanka, Greece and the Netherlands, wants Australia's International Air Services Commission (IASC) to extend its funding deadline to 20 October.
The airline's first application in February 1996 failed because of uncertainties over funding. The IASC reversed that decision in April 1997, following Australian World's merger with another start-up, Australia Connection Airways, which had proposed operating three Boeing 767 services weekly to Greece via Malaysia. It allocated Australian World two Boeing 747 services a week in each direction between Australia and Greece, "despite doubts about some aspects of the airline's business plan".
Conditions were that the airline satisfy the IASC within six months that it had A$25 million ($15.8 million) funding in place, to be used exclusively to establish and operate the services; that it begin operations no later than nine months from the date of the determination; that only Australian World would be allowed to use the capacity and that no changes of ownership and control would be permitted. The IASC is reviewing the request.
Source: Flight International
