Gavan Spring with daughters Olivia and Brittany. If Captain Gavan Spring has his way, Ansett's 14,000 staff will soon participate in one of the biggest employee buy-out schemes in Australian corporate history. The proposal requires employees to exchange a portion of their salaries to buy shares in an investment company that would buy the News Limited stake.
Financial experts believe it is an ambitious plan.
But Mr Spring, a Sydney-based pilot, and Ansett captain for nine years, is not daunted. He remains tight-lipped about the outcome of his discussions with News Limited. It is inappropriate to make comments about a confidential meeting. Mr Spring said there was a great deal to consider, as the proposal would have an impact on the incomes and financial commitments of Ansett's staff. He said it would involve a restructuring of staff remuneration arrangements.