Moncton Flight College in receivership; merger with CANLink likely
Feb. 16, 2011, Moncton, N.B. - Moncton Flight College has been placed in receivership, but negotiations are underway on a merger with CANLink Aviation so it can continue to train pilots from around the world.
February 16, 2011 By The Canadian Press
Matt Harris, a spokesman for receivers Ernst & Young, said Tuesday that the Moncton Flying Club, which owns the college and its assets, was placed in receivership Monday.
The college is located next to the Greater Moncton International Airport and its small training aircraft are a familiar sight in the skies over the city.
Harris said students continue to be trained at the college and they're hoping to have a merger agreement with CANLink in a few days.
He said the college has encountered financial difficulty as a non-profit organization and needs to merge with another entity to continue operating.
Mike Tilley, CEO of CANLink, said discussions were continuing with the receiver, bank, the college and the provincial government toward a solution that will keep the college operating in Moncton.
"I hope to be able to announce a new relationship by the end of the week,'' Tilley said.
CANLink Aviation is a Canadian company that specializes in providing aviation products and services to the international market.