FreightLink failed to make a profit in the first four years, and on 19 May 2008 the company announced that the board, shareholders and lenders had agreed to sell the company's ownership of the Alice Springs to Darwin line, citing its inheritance of a large amount of debt from the construction phase that it was unable to manage. On 6 November 2008, Freightlink went into voluntary administration after failing to reach agreement with creditors on the terms of a sale of the business. Genesee & Wyoming Australia (now One Rail Australia) purchased the assets of FreightLink on 10 June 2010 for $334 million, including the 50-year lease on the Tarcoola–Darwin line.