In December 2021, the former NT Labor Government committed to conditional funding under the Local Jobs Fund up to $10 million for Amphibian Aerospace Industries Pty Ltd, which trades as AAI.
Subsequently, a $3 million equity investment, and a $2.5 million loan, was provided to the company.
The $2.5 million loan was repaid to the NT Government in September 2024.
The equity holding of $3 million was retained.
“As a matter of good governance, the consideration of the AAI project to determine the next steps is underway,” said Ms Cahill.
“As part of the consideration of the project, a meeting will be held with AAI to discuss its business strategy and plans in Darwin.
“Once all steps are completed, the NT Government will consider options in the best interests of the Territory.
“Territorians are shareholders in this business, and the company’s continued success is important.”
Northern Territory Government
