Bonza goes bust, uncertainty over aircraft ongoing
Bankrupt Australian airline Bonza has updated its grounding information as of 7 May 2024, extending the suspension of flights – previously covering the period up to and including 7 May…
Bankrupt Australian airline Bonza has updated its grounding information as of 7 May 2024, extending the suspension of flights – previously covering the period up to and including 7 May – until at least Tuesday 14 May, as lessors seek to repossess their assets.
On May 2 2024, Bonza confirmed that it had “temporarily suspended services due to be operated up to and including Tuesday 7 May,” with discussions currently underway regarding the ongoing viability of the business. It added that the airline was “working as quickly as possible to determine a way forward that ensures there is ongoing competition in the Australian domestic aviation market”.
Australian chartered accountants and business advisors Hall Chadwick were appointed as voluntary administrators of Bonza as of 30 April 2024, who – along with the assistance of global law firm Norton Rose Fullbright – were “considering the continued trading of the Company’s operations”. However, in an updated statement as of 7 May, Hall Chadwick confirmed that, regretfully, “the lessors of the aircraft will continue to enforce their rights under the termination notices and, subject to their own requirements and arrangements, seek to reposition the fleet elsewhere”.
Following Bonza’s initial cessation of trading, local media reported that lessor AIP Capital was already in the process of preparing to repossess Bonza’s fleet of four 737-8 aircraft. AIP did not immediately respond to a request for comment.
According to the administrators, Bonza’s creditors number some 58,000 (including passenger bookings).
