Experience Co's Struggling Skydive Business Finds a $65 Million Fix

Weak international volumes and industrial action hurt the Australian skydive business, before a strategic review produced a combination deal with New Zealand's Inflite Group.

31 Jul 2026 · 2 min read

Experience Co's underperforming Australian skydive business, hurt by weak international volumes, cost-of-living pressures and industrial action, prompted a strategic review that ultimately produced a $65 million deal to combine its skydiving operations with New Zealand-based Inflite Group, strengthening the balance sheet and crystallising value.

An underwhelming skydive business drags on results

Perennial Partners said weaker results from Experience Co following an underwhelming first-half FY26 report offset some of the trust's positive contributors during the month. Forager Funds said the company's skydive business in Australia has been hurt by weak international volumes, cost-of-living pressures for domestic jumpers, and industrial action during peak trading periods, prompting management to review the Australian skydive operation with a view to optimising the footprint and driving better returns on capital, even as the rest of the group, including its New Zealand skydive business, performed better. Perennial Partners, describing Experience Co as a legacy position, said the stock continued its downward trajectory on little news and very light volumes, arguably compounded by some tax-loss selling.

Experience Co's skydive business in Australia has been hurt by weak international volumes, cost-of-living pressures for domestic jumpers, and industrial action during peak trading periods. Management is now reviewing the Australian skydive operation with a view to optimise the footprint and drive better returns on capital.

— Forager Funds, Annual Report, June 2026

A strategic review produces a transformative deal

Forager Funds said a strategic review at Experience Co produced a potential fix for the underperforming Skydive Australia business, with Inflite, a New Zealand aviation-tourism business, offering to purchase Experience Co's Australasian skydive operations in a deal worth about $65 million, comprising $41 million cash now, $5 million cash later and a 32.5 percent stake in the combined entity, a good result but not yet guaranteed. Perennial Partners said the stock rose 29.3 percent following the announcement, under which Experience Co would receive $41 million of upfront cash, a $5 million vendor note and retain a 32.5 percent interest in the combined business, a transaction that would strengthen the balance sheet and crystallise value.

Under the proposed transaction, Experience Co would receive $41 million of upfront cash, a $5 million vendor note and retain a 32.5% interest in the combined business. The transaction would strengthen the balance sheet, crystallise value.

— Perennial Partners, Monthly Report, July 2026

What fund managers say they are watching next is whether the Inflite deal completes as proposed, delivery of a stronger combined skydiving business under the new structure, whether the rest of Experience Co's adventure tourism portfolio continues performing better than the troubled skydive segment, and resolution of the tax-loss-selling pressure that has weighed on the stock.