Kenny sells aviation business
FORMER champion ironman Grant Kenny has sold most of his Sunshine Coast aviation business, which he expects will grow by targeting mining communities in Central Queensland and Western Australia.
Mr Kenny, also an astute businessman on the Coast, announced last week that he had sold a majority stake in Curry Kenny Aviation.
The sale, understood to be worth tens of millions of dollars, was with investment company Helmsman Capital.
It includes most of Mr Kenny's mining, tourism and charter fleet of 60 helicopters and fixed-wing aircraft based in Gladstone, Mackay, Sydney and Western Australia.
Mr Kenny said his decision to sell was impacted by a challenging property market and his desire to see Curry Kenny Aviation reach its potential.
"It made good business sense," he said.
Mr Kenny will stay as chief executive and both he and former wife Lisa Curry will keep shares in the company, which was launched in the 1990s.
Curry Kenny Aviation has also sold Chopperline, its international flight training operation with schools on the Sunshine Coast, to an undisclosed buyer.
Curry Kenny Aviation will adopt a strategy targeting mining-rich regions in 2012, with emphasis on Gladstone, Rockhampton and Mackay in Central Queensland and the Kimberley region in WA.