Darrell Greer
Northern News Services

Rankin Inlet (Mar 27/02) - The Atuqtuarvik Corp. is preparing to bolster an Iqaluit aviation company.

The Rankin Inlet-based lending company has announced the approval of a loan and equity financing agreement with Unaalik Aviation Inc.

Atuqtuarvik chair John Hickes says the capital infusion into the aviation company will allow it to expand operations.

Unaalik Aviation -- assuming it receives approval from Transport Canada and the Canadian Transportation Agency -- will offer charter services from Iqaluit, utilizing a Twin Otter and Cessna 185.

Hickes says the company has demonstrated a strong commitment to success by securing strong partnerships, building a solid team and buying quality equipment.

"A basic fundamental question here is how do you manage growth with the limitations of the North?" says Hickes.

"We deal with many restrictions here, including environmental issues, equipment breakage and inclement weather. But, all things considered, the projections are that Unaalik Aviation can be a viable entity."

Unaalik president Jimi Onalik says without Atuqtuarvik, the company would not be in business.

"The operation of an airline in Nunavut is very challenging and Atuqtuarvik allows us to make the business decisions we need to make to ensure we have the best product," says Onalik.