AUSTRALIAN BUSINESSMAN BIDS FOR AIR NIUGINI

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PORT MORESBY, Papua New Guinea (November 30, 1997 - PACNEWS)--- The Papua New Guinea government is reported to be under pressure to accept a buyout bid mounted by a wealthy Australian expatriate businessman for the national airline, Air Niugini.

The businessman, Michael Bromley, is understood to have discussed the prospective deal with senior government and airline officials in Port Moresby last Wednesday.

According to The Australian Financial Review, the package being put together by Bromley is believed to be backed by a syndicate of seven investors.

Bromley is head of the Hevi Lift aviation group and a former chairman of PNG's national airline commission, through which he has been closely linked with Air Niugini.

The PNG cabinet is expected to soon consider recommendations from a task force setup to develop a strategy for Air Niugini, which is said to be desperately in need of a capital injection to upgrade its fleet of airplanes and establish financial stability.

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