note
Australia's original LCC (Low Cost Carrier) established in 1990 following the deregulation of Australia's aviation industry. Bryan Grey who previously managed East-West Airlines formed the airline. Operations commenced in December 1990 serving Sydney, Melbourne, Adelaide, Brisbane, Cairns and Perth. "Stretch your wings, Australia" was their motto. Airline was under-capitalized and a dispute with the government over fees served as a pretext for the government to withdraw their AOC on December 20 1991. This decision appears to have been political because Australia's main travel season was about to start. In 1992 a new airline was set up by Douglas Reid (deputy chariman) and Sir Leo Hielscher as its chairman. Initially its trading name was Southern Cross Airlines Holdings but the company adopted Compass brand as it had already built some notoriety. This reincarnation started operations in August 1992 using leased MD-80 airliners. The airline stayed in business only about a year and ceased operations on March 12 1993 due to unexpectedly large losses and financial irregularities.
founded - demised (age)
April 1990 - March 11 1993 (3)
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current /stored fleet (0)
