2 Cheap Cars to sell out of airline venture

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

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