Backers Unable to Keep New Zealand Flight Simulation Firm In the Air


Iain Pero, the brother of Mike Pero Mortgages founder Mike, is in the running to pick up the assets of failed flight simulator business Flight Experience Group, The New Zealand Herald reported. Flight Experience was put in receivership last week by its bankers, owed $4 million. The Christchurch startup manufactures and sells flight simulators for pilot training and entertainment. It has six outlets around the country plus sites in Australia, Singapore and Hong Kong. The company was placed in voluntary administration by its owners last month. Read more.