Sharechat Logo

Experience Co cleared by CAA to resume Queenstown skydiving operations, shares rise

Monday 15th January 2018

Text too small?

ASX-listed Experience Co was cleared to resume skydiving operations in Queenstown yesterday after a voluntary suspension last week following an incident left an American man missing, presumed drowned. 

The Civil Aviation Authority approved NZONE Skydive's resumption of business, and the Australian adventure tourism operator said it's still cooperating with ongoing investigations. A recovery operation for the missing man in Lake Wakatipu is still underway. The ASX-listed shares rose 3.3 percent to 78.5 Australian cents. 

Experience Co chief executive Anthony Ritter again paid his condolences to the man's family and acknowledged the support of Queenstown's skydiving community. 

"Queenstown is the adventure tourism capital of the Southern Hemisphere and we know how important skydiving is to the vibrancy of this unique city," Ritter said in a statement to the ASX. "In that regard, we're pleased to say that after taking advice from the regulators, staff, crew and the local community, we have resumed operations." 

Wollongong-based Experience Co, formerly known as Skydive the Beach Group, bought Queenstown's NZONE Skydive in 2015 for $17 million to tap into New Zealand's booming tourism sector. NZONE, set up in 1990, employs 65 staff and has taken more than 300,000 passengers tandem skydiving. The Australian company expanded its New Zealand footprint with the $10.4 million purchase of Skydive Wanaka in 2016.

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report