It is disappointing as it leaves the aircraft that the Aero Club and CTC brought effectively unsupported.
Another blow to the Hamilton Airport and Government as well.
I would love to have a look at their books. They are reported to sell aircraft at around $250,000 (which is cheap) and are producing around 10 per year. 2,500,000 million is turnover is not much to support 70 staff and pay for the costs of production. It is has 20 aircraft, has orders for 16 with a further 14 options. The parent company announcement to the ASX is worth a read.
It proves the saying correct “The best way to make a small fortune in aviation … is to start with a huge one.”