Former Minardi Formula One Team owner Paul Stoddart has sold his Australian airline OzJet to HeavyLift Cargo Airlines which is based in Sydney. It has been reported that Paul Stoddart sold his airline for several million dollars.

OzJet was launched three years ago in 2005; they provide business class seats for flights to and from Sydney and Melbourne airport. Unfortunately in 2006 the airline cancelled some of its flights, and failed to attract passengers. After this OzJet became a charter airline and flew between Perth and Derby. It has expanded over the years and began operation to New Zealand and North Palmerton; however the airline was faced with yet another set back when these flights were cancelled 3 days before the launch. For more information about OzJet’s services and schedules see http://www.ozjet.com.au/services.aspx

Paul Stoddart stated that he would like to see OzJet “progress into a successful schedule and specialist charter airline” and is very pleased with the multi million dollar sale.

Nick Leach, owner of HeavyLifts, has said that the aviation industry is very competitive and this purchase will strengthen both companies. Mr Leach’s foremost reason for purchasing OzJet was that so that HeavyLift could acquire their Air Operators Certificate, which will allow HeavyLift to the operate within Australia.

Mr Leach plans to develop his company HeavyLift by introducing many new aircrafts into OzJets fleet. He plans to replace the 35 year old economically unpractical 737-200 aircrafts that cost too much in fuel, with newer 737-300s over the next year. In the meantime OzJet will continue to operate as a passenger airline.

There is much information on Heavy Lift’s website about the services they provide, for more information see http://heavyliftcargo.com/