The owner of MacAir Airlines, Mr Terry Byrt, is a substantial shareholder in RMA Energy Ltd, an ASX (Australian Stock Exchange) listed mining company. It was a darling of the bull market in 2007 when it's share price peaked at just over $2. In 2008, the highest price was 53c per share. Currently in 2009, the shares are trading in the 3.5c to 5c range. It was one of the best price improvement performers on the ASX in 2007.
RMA Energy Ltd was named after Sir Reg Ansett, an Australian aviation pioneer, who Mr Byrt greatly admired. Ansett Airlines of Australia Ltd, one of the Australia's airline duopoly, together with Qantas Ltd. Ansett disappeared into liquidation about 7 years ago and this has led to low cost ailines such as Virgin Blue and Jetstar, filling the void. This has resulted in fairer airfares for all Australian air travellers.
Mr Byrt had only acquired ownership of MacAir on 4 April 2008. Sadly, Mr Byrt's dreams of creating another Ansett Airlines has been flushed away with Suncorp appointing Justin Walsh of Ernst & Young as receiver. Mr Byrt had appointed Jonathan McLeod of McLeod Partners as voluntary administrator on Thursday night.
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