Rich-lister Tim Roberts bails out of Mineral Resources’ in-house FIFO airline

Billionaire Tim Roberts, a friend and business associate of the beleaguered Chris Ellison, has exited his half stake of Mineral Resources’ private airline.

AVWest FIFO Pty Ltd, an entity wholly-owned by Mr Roberts, relinquished its 50 per cent holding in MinRes Air on October 3.

MinRes now has full control of the in-house airline, less than two months after it came to light that ownership was evenly split with Mr Roberts.

“AVWest provided advice and expertise during the formation of MinRes Air to assist in the commencement of operations. As we now have a highly experienced executive team in place, MinRes Air has transitioned to 100 per cent MinRes ownership,” a MinRes spokesman said.

The spokesman did not confirm or deny if Mr Roberts received any remuneration for his assistance.