Statement re: Douglas Aerospace Pty Ltd

Statement re: Douglas Aerospace Pty Ltd - 5 May 2015

Wagga Wagga City Council was informed late yesterday that Douglas Aerospace Pty Ltd has voluntarily appointed Sydney based chartered accounting firm Armstrong Wily as Administrator of the company assets.

The Administrator has indicated that Douglas Aerospace Pty Ltd will continue to trade while under administration.

Douglas Aerospace Pty Ltd is an aircraft refurbishment company currently operating out of the Wagga Wagga Airport. Council has a loan agreement with Douglas Aerospace Pty Ltd and security over the assets of the company. Douglas Aerospace is currently up to date with its loan repayments to Council.

Council representatives will hold discussions with its legal representatives and the Administrator over the coming days