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Origin Pacific Continues To Fly With New Investors

ORIGIN PACIFIC
MEDIA STATEMENT
JUNE 16, 2003

Origin Pacific Continues To Fly With New Investors


New investors and an injection of cash means that Nelson based airline Origin Pacific will continue to operate its regional airline network the company announced today.

Most prominent amongst the investors is businessman Mike Pero who returns to the skies of New Zealand, buying a significant shareholding in the airline. The former airline pilot and operations manager, who is more well known for his business successes in the Mortgage Broking industry, confirmed today that his shareholding in the company fulfils a long-held ambition to get back into the country’s airline industry.

Pero, along with a group of Wellington investors have injected extensive resources to provide a solid base for the airline’s continued growth. One that they hope will enable it to build on the positive impact Origin has already made to air travel in New Zealand.

“I see a bright future for the company, despite their recent problems,” said Pero today. “I guess I’m lucky that I have a good understanding of how the industry works. I believe Origin Pacific has a great operational set-up and I have been impressed by the professionalism of Robert Inglis and his team.

“Over the past 7 years Robert and the Origin team have built up quite a remarkable airline – it is home grown, it is servicing New Zealand from the cities to the provinces and providing valuable connections in both passengers & freight. As well as that Origin are an independent. This means they can deliver passengers around New Zealand or to and from the main airports for international connections.

“I feel strongly that there is a place for a competitive regional airline in New Zealand,” Pero continued. “I think it is obvious to most people that competition will help keep regional airfares down. We all know what happens when the skies fall back to a single player.”

Pero says his involvement with Origin Pacific will not be passive. He will play a leading role in the development and marketing of the company as it seeks to remain a competitive option for New Zealand travellers.

“It’s an exciting time, and our challenge is to continue to provide New Zealanders with a competitive schedule of routes around the country. We will be looking at launching some innovative products and services in the near future. Origin Pacific’s basic proposition, however, will remain straightforward
– our forward focus will be on value, schedules and customer care.”

Origin Pacific founder Robert Inglis says the introduction of Mike Pero into the company provides a significant boost for the company.

“Mike is very dynamic and passionate about seeing Origin Pacific become a long term success in the airline industry,” Inglis said. “We believe that he is exactly the right person to come on board. His background in aviation and his success in business mean he has some valuable qualities he can bring to the business.

“The support we have had from our customers throughout New Zealand, our staff from the industry and from our backers has been incredible over the last few weeks. It is up to us now to repay that faith and continue to build Origin Pacific into the airline we know it can be.”

A new board will be appointed shortly. Inglis says that essentially it is business as normal, and the company is looking forward to an exciting future.

Ends

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