TAMWORTH Regional Council has all but written off the money owed to it by airline JetGo, after the company was forced to liquidate due to mounting debts.
JetGo, which left Tamworth in April after cancelling its Brisbane route, owes $38 million to various creditors.
TRC’s business director John Sommerlad said the $26,400 Tamworth was owed paled in comparison to what other councils were owed.
“When you consider the fact that we are an unsecured creditor, like a whole host of other people, I would suggest that it would be unlikely we will see any more money,” he said.
“Whatever money is made from the liquidation will go to the secure creditors. That leaves very little money left for everyone else.”
Mr Sommerlad said the council always budgeted for doubtful debts, and this was no different.
“We’ll wait for a full report from the liquidator before we make any final decisions,” Mr Sommerlad said.
“When you consider $26,400 out of $38 million, we’re a very small creditor. We’re a lot better off than a number of councils.”