Skydive business Exeperience Co claws back some losses after fatality

Shares in adventure tourism company Experience Co have regained some ground on news that its skydiving operation in Queenstown, New Zealand, had resumed business five days after a suspected fatality.

A man from the US is missing and is presumed to have drowned after he and an instructor from Experience Co's NZONE Skydive landed in Lake Wakatipu in Queenstown during a tandem skydive on Wednesday.

The company had voluntarily suspended NZONE's operations after the incident but it resumed trade on Sunday.

Shares in Experience Co, which declined 10.5 per cent on Friday, gained three cents, or four per cent, to 79 cents on Monday.

Experience Co chief executive Anthony Ritter said the decision to reopen NZONE's commercial operations followed advice from the Civil Aviation Authority.

"This is a small but very important first step in beginning the healing process," Mr Ritter said in a statement to the ASX on Monday ion which he reiterated his condolences to the missing man's family.

Experience Co, which recently changed its name from Skydive The Beach Group, was at the centre of a triple skydiving fatality in October where a woman and two skydiving instructors died in a suspected mid-air collision at its Mission Beach business, south of Cairns, in far north Queensland.

- News.com.au