Ce ee -in a bankrupt company or - _tected from A10 - The Terrace Standard, Wednesday, June 7, 2006 a Conceptualizing _ - CITY PLANNER David Block explains the land use concept of.the city’ ‘s airport lands to Chamber of Com- ~ merce employee Debbie.Simons. Engineering consultants EBA Engineering of Calgary, Alberta have com-~ piled. a plan for how the industrial lands at the airport can be developed in the future. The comprehensive vision divides the project into phases and addresses issues such as infrastructure development, agricul-. tural uses, industrial development and commercial business. possibilities. The city.is looking for feedback . “on the proposed plan and will display information boards. in the reception area of city hall for taxpayers to examine. The Setalied sonceptua report will be made available on line. , TERRACE STANDARD 3USINESS REVIE a 4 x "When you realize josing your licence coyld cost you your job? | "+ When a friend wrestles your keys away? After the cops give you a 24-hour suspension? yout When will you stop drinking and driving? Police road checks on now. | . SARAH A. ZIMMERMAN PHOTO . ; . . oo! . DRINKING DRIVING ‘Hawkair hopes — manager. - hopes.’ . the ‘company’s ~ creditors. will ~ ‘ accepta go-forward financial” plan to be released tomorrow in B.C. supreme court, allowing the regional airline to.come out of bankruptcy protection. still slcaaidth on the details but he did say it will involve creditors agreeing to ac- - cept less than what they are owed. ' Unsecured creditors are owed just under $2 million: but the company owes se- cured creditors, such as Mar- itime-based IMP which sold Hawkair two of the Dash 8- 100s it flies, far more. Hawkair has been pro- since last fall; giving it time to put together a three-year pian to restore its financial health. o The company. cited high “insurance costs, high fuel prices, stiff competition and paying too much for air- planes which are worth less . than what they were. when purchased as reasons why it could not pay its debts. _ Hawkair has since cut costs and.is a viable day- to-day operation within its creditor protection umbrella, said Beshr. “Tm feeling. very posi- tive. We are a going concern. We have a good, strong cash flow and a loyal customer | _ base and I can’t imagine any » other future than a positive one,” he said late last week. Beshr said the company has investors waiting ‘to sign on, but only if its past debts are dealt with. “Nobody wants to invest one that is close to being _ bankrupt,” he said. The most challenging part of Hawkair’s predicament is dealing with IMP, its largest ~ creditor. Hawkair does have a proposal out to IMP to ad- dress the money it owes but, as of late last week, has not had aresponse. “They have. to decide how much they figure they will get out of bankruptcy compared to accepting our _ plan. It’s an A and B com- Cr eo ee parison. Under A, they get their airplanes back. Under B, we can guarantee them something,” said Beshr. He noted IMP has to calculate how much the two Dash 8-100s it sold to Hawkair are worth. An air- craft availability tracking | d the company was. . its creditors: creditors OK payment plan | 1 HAWKAIR’S | GENERAL - Tom Beshr service: indicates there are already 14 Dash 8-100s for sale, meaning that supply outweighs demand, thus reducing any kind of sales price IMP could-expect. In - any event,. Hawkair eventu- ally wants to get rid of IMP’s . Dash 8s as they are older, heavier than newer models and less efficient. New Transport Canada weight restrictions have also cut the number of passen- gers and cargo each plane can carry. That means less - potential revenue per flight which adds to the company’ S financial challenge. Once tomorrow’s credi- tor proposals are released, a Series of meetings and votes kicks in. If ‘all goes to plan, the company could come out of bankruptcy protection this. “summer. HOUSE Nor Us AT COUNTERATTACK LEGISLATIVE ASSEMBLY OF, BRITISH COLUMBIA Special Committee on Sustainable Aquaculture -Robin Austin, MLA Chair, Ron Cantelon, MLA Deputy Chair - The Special Committee on » Sustainable Aquaculture has been appointed to examine, inquire into and make recommendations to the Legislative Assembly with respect to sustainable aquaculture in British Columbia. The Committee is conducting public hearings to hear what the public has to say about aquaculture i in the province. ‘Gitanmaax Reserve For more information on appearing before this all-party committee or sending a written submission, visit our website or contact the Office of the Clerk of Committees. oe SSehagy ADDRESS ALL INQUIRIES TO: Craig James . Clerk Assistant and Clerk of Committees Room 224, Parliament Buildings Victoria, BC V8V 1X4 Toli free in BC: 1-877-428-8337 Tel: (250) 356-2933, Fax: (250) 356-8172 _ E-mail: Aquaculture@leg.bc.ca www.leg.bc.ca/emt ’ PROVINCE OF 2} SH COMM 0-0 beach ERS READ Tre LEC OYE Tew isi 2 required. Total lease obbgation is $8,964 and ontx of $1 istration fees and al other When you're the best selling compact truck in Canada’ you don't really need a headline for your ad. * PER MTH/36 MTHS ‘0 DOWN | No security deposit required. includes $3,550 delivery allowance and Air Tax & Freight of $1,200. 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