Impulse Airlines loses AUD20m funding deal.

Airline Industry Information | December 19, 2000 | Copyright

AIRLINE INDUSTRY INFORMATION-(C)1997-2000 M2 COMMUNICATIONS LTD

The Motor Trades Association (MTA) has decided not to proceed with a convertible note facility that would have given the start up Australian carrier Impulse Airlines AUD20m funding.

Gerry McGowan, the carrier's executive chairman, has stated that the withdrawal was due to the two parties being unable to reach agreement on specific terms and conditions of the transaction according to The Sydney Morning Herald.

Despite losing the deal with the MTA, Impulse Airlines is very optimistic ...

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