Air Transport World

Negotiations.

Negotiations between the New Zealand merchant bank Fay, Richwhite, its Middle East partner Oasis International Leasing Co., and the owners of Ansett Worldwide Aviation Services over the A$600 million sale of AWAS are close to breaking down after nearly two years.

Industry sources indicated that the terms of an insurance bond arrangement, pulled together by Fay, Richwhite and Oasis through an offshore syndicate to cover cross-guarantees in AWAS, have proved unacceptable to the shareholders, News Corp. …

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