Despite the penalty, the Flying Kangaroo said the ACCC is no longer proceeding with claims the airline received payment for flights it had no intention of providing – essentially removing the suggestion it deliberately misled consumers.  

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.