New Zealand's largest taxi firm has lost another major contract with Air New Zealand as the fallout from the resignation of its entire management committee spreads.
Auckland Co-Operative Taxi Society has lost a $500,000-a-year contract to transport Air NZ engineers, three weeks after it lost a $2 millioncontract to transport air crew.
Both contracts were lost to a 90-day contract with Maxi Taxi, owned by former committee member David Newson, who was in charge of the co-op's Air NZ contract last year.
An audit of the co-op shows it is about $5 million in debt, $1.5 million more than at its annual meeting last July, and the 580 owner-drivers face a $100 monthly levy increase.
Auditors assessed the co-op's financial position after the entire management committee resigned last month following votes of no-confidence by half of the shareholders.
Members said the board made controversial financial and management decisions without explanation.
The previous chairmen, Robert van Heiningen and Paul Cafferkey, have welcomed the audit, saying it will put doubts to rest.
They say that during their time they increased the quality of the fleet, driver performance, level of technology and dispatch systems.
Acting chairman Alistair Honeyman said five other contracts that were "wobbly" when management changed were now secure.
He said the co-op was confident its bank, WestpacTrust, would be supportive when the audit report was received at the end of this week.
