HIGH profile NSW hotelier Jerry Schwartz has taken a stake in the company which operates Sydney Seaplanes, with the move set to see a significant increase in services out of Rose Bay.
Schwartz will also add his own pair of amphibious aircraft to the Sydney Seaplanes fleet, lifting the total complement to six, with existing shareholders Aaron Shaw and Ken Gaunt confirming the investment would provide a boost to the company.
On New Year’s Eve 2017 Sydney Seaplanes was rocked by the crash of one of its aircraft into the Hawkesbury River, killing all six people on board.
The company confirmed the incident had been a drain on its cash flow but Shaw and Gaunt said the business would have survived without the injection of the third shareholder.
“Jerry’s investment, both financial and also with the fleet growth, they really help us speed up that recovery significantly,” Shaw told The Australian.
Schwartz also holds land at Cessnock Airport which could potentially provide a second hub for Sydney Seaplanes.
“Seaplanes have been such a fundamental part of Sydney’s transport heritage, and given how many idyllic locations along the east coast are located on waterfront, there is a natural advantage of growing the network,” Schwartz said.
He also noted strong demand for high-end groups to visit the Hunter Valley to play golf, visit wineries or take part in many of the local events held there.
Schwartz owns 11 hotels in Sydney and the Hunter region including the Sofitel Sydney Darling Harbour adjacent to the International Convention Centre.
Source: traveldaily