iscover
Staff are unable to claim their salary from the government immediately because the company is continuing to search for new investment and also risk losing money if they formally resign.
A new statement from administrator Hall Chadwick reveals the airline's directors were only told they were losing control of their 737 MAXs the day before the repossessions occurred.
777 Partners, which is believed to have held around 24 per cent of Flair, has seen its stake reduced to almost nothing, according to sources cited in the Australian Financial Review. The Miami-based venture capital firm is also a part owner of Bonza, which entered voluntary administration this week.
Speaking exclusively to Australian Aviation, Bradley Davren, CEO of AVCRO, which has provided MRO services to Bonza since the airline’s inception, said that the stricken low-cost carrier was a viable business before entering voluntary administration on Tuesday afternoon due to a lack of aircraft.
In a statement released on Wednesday afternoon, administrator Hall Chadwick said Bonza’s four 737 MAX 8s, which were seized early Tuesday morning in a move that reportedly blindsided the airline, will remain on the tarmac until next week at the earliest.
The competition watchdog is seeking submissions on its draft determination, which would allow Virgin to sell an unlimited number of tickets under its code on Air New Zealand flights sold and originating in Australia, up to available capacity, provided that Air New Zealand sets the fares.
PROFILES
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
Raising the Bar in Commercial Laundry: How Rinse & Repeat Is Redefining Service for Aviation
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
UPRT Australia- Transforming Aviation’s Greatest Risk into Its Greatest Asset
