Stoddart to launch airline

Formula One team owner Paul Stoddart is about to launch his long-anticipated new commercial airline for Australia. In southern capital Adelaide, a 30-year-old 'Ozjet'-liveried 737 will be unveiled as a potential threat to existing domestic carriers Qantas, Virgin Blue and Jetstar. 50-year-old Stoddart, who bought Italian-based team Minardi in 2001, earned his fortune in European-based aviation. But Ozjet, we can reveal, does not have an Australian commercial license, and the Civil Aviation Safety Authority said it had not even received a formal application.