Bonza administrator sacks workers

BTN News
Tuesday, 11 June 2024

Australian budget airline Bonza, which entered voluntary administration in late April, has had to fire its staff after administrator Hall Chadwick failed to find a buyer for the carrier by a deadline of 7 June.

Hall Chadwick said workers were stood down without pay in April when the airline went into administration with debts of about A$110 million and its fleet of Boeing 737-8 planes was repossessed by lessors.

Bonza's future still has to be determined. The administrator will convene a major meeting with creditors to decide its future once investigations are completed.
 
As things stand, Bonza is not in liquidation. Australia's Federal Court has given until 29 July for a buyer to be found.
 
However, Bonza's air operator's licence is not transferable and any buyer would either have to have its own licence or apply for one, which can be a lengthy process.
 
Creditors include staff, lenders, trade creditors, landlords and government authorities including the Australian Taxation Office.

Bonza administrator sacks workers

BTN News
Tuesday, 11 June 2024

Australian budget airline Bonza, which entered voluntary administration in late April, has had to fire its staff after administrator Hall Chadwick failed to find a buyer for the carrier by a deadline of 7 June.

Hall Chadwick said workers were stood down without pay in April when the airline went into administration with debts of about A$110 million and its fleet of Boeing 737-8 planes was repossessed by lessors.

Bonza's future still has to be determined. The administrator will convene a major meeting with creditors to decide its future once investigations are completed.
 
As things stand, Bonza is not in liquidation. Australia's Federal Court has given until 29 July for a buyer to be found.
 
However, Bonza's air operator's licence is not transferable and any buyer would either have to have its own licence or apply for one, which can be a lengthy process.
 
Creditors include staff, lenders, trade creditors, landlords and government authorities including the Australian Taxation Office.