INDEPENDENT NEWS

2 Cheap Cars to sell out of airline venture

Published: Thu 24 Dec 2015 02:53 PM
2 Cheap Cars to sell out of airline venture
2 Cheap Cars has decided to sell its stake in Kiwi Regional Airlines.
The biggest importer and retailer of second hand cars in New Zealand, 2 Cheap Cars was a major investor in the fledgling airline with a stake of more than 10 per cent.
2 Cheap Cars CEO Eugene Williams says it was never intended to be a long-term investor in Kiwi Regional Airlines and now that it is up and running it is a less risky venture for other investors.
“When we first got involved the airline didn’t have any other investors. We were pleased to help at the entrepreneurial level and play a part in getting it underway.
Now with CAA certification, an aircraft and a growing passenger list it is a great time for others to come on board.
“We are confident that with the tourism sector starting to boom we will find a buyer that will be a good fit with the business. It is certainly an opportunity for someone,” says Eugene Williams.
“In the meantime our own business continues to grow at a phenomenal rate. We are selling more cars than ever based on a very simple formula of having very low margins and passing those savings on to consumers. Kiwis recognise a good deal and our business is flourishing as a result,” he says.
2 Cheap Cars has added a further five retail outlets throughout New Zealand in 2015 and now has 15 locations. The number of vehicles sold during the calendar year is expected to exceed 10,000.
ENDS

Next in Business, Science, and Tech

We May Have Popped Out Of A Double Dip Recession, But We’re Still Struggling…
By: Kiwi Economics
Rules For Earthquake-Prone Buildings Under Review – Expert Reaction
By: Science Media Centre
ANZ Ready To Support Northland Customers
By: ANZ Bank
Economy Limps Out Of Recession As GDP Grows 0.2%
By: RNZ
Waikato Seismic Research May Have Global Impact
By: Earthquake Commission
Reflections On "NZ Pays Too Much For Broadband"
By: Bill Bennett
View as: DESKTOP | MOBILE © Scoop Media