Bonza grounded until May 2 at least

BTN News
Thursday, 02 May 2024

The proposed takeover of the UK Premier soccer league club Everton by 777 Partners, the US firm behind the now-in-administration Bonza Air in Australia, is being questioned over an estimated GBP15 million sought by Everton in funding loans.


A 777 spokesperson said the football club had been "provided with the working capital it needs as of Tuesday April 30”, but did not say how much of the GBP15 million had been provided.

According to UK media, a GBP15 million loan would mean the club had borrowed more than GBP200 million from 777 in the past seven months.

Meantime, as we reported on the day, low-cost airline Bonza entered voluntary administration in Australia on April 30, with the airline claiming neither it nor major shareholder 777 Partners had advance notice that its planes' lessor was going to repossess them.

Bonza administrator Hall Chadwick says the entire fleet is grounded up to and including Thursday May 2, while key parties decide whether the company can continue operating during administration.

Workers at Bonza also are affected, while passengers with bookings have been advised not to travel to airports.
Customers in Australia can call Hall Chadwick's hotline on 03 8678 1600 for more information. 

Bonza grounded until May 2 at least

BTN News
Thursday, 02 May 2024

The proposed takeover of the UK Premier soccer league club Everton by 777 Partners, the US firm behind the now-in-administration Bonza Air in Australia, is being questioned over an estimated GBP15 million sought by Everton in funding loans.


A 777 spokesperson said the football club had been "provided with the working capital it needs as of Tuesday April 30”, but did not say how much of the GBP15 million had been provided.

According to UK media, a GBP15 million loan would mean the club had borrowed more than GBP200 million from 777 in the past seven months.

Meantime, as we reported on the day, low-cost airline Bonza entered voluntary administration in Australia on April 30, with the airline claiming neither it nor major shareholder 777 Partners had advance notice that its planes' lessor was going to repossess them.

Bonza administrator Hall Chadwick says the entire fleet is grounded up to and including Thursday May 2, while key parties decide whether the company can continue operating during administration.

Workers at Bonza also are affected, while passengers with bookings have been advised not to travel to airports.
Customers in Australia can call Hall Chadwick's hotline on 03 8678 1600 for more information.