Bonza’s Flight to Survival: Talks Underway with Potential Investors

Bonza, which filed for voluntary administration on 30 April, may find its wings again in a remarkable twist of fate. The company’s administrator, Hall Chadwick, has disclosed ongoing discussions with approximately 20 interested parties, including investors, airlines, and travel companies, to rescue the beleaguered carrier.

Six parties have shown significant interest, hoping Bonza could soar again with fresh investment. This potential revival surprised many industry experts who had written off Bonza’s future due to its lack of aircraft.

The airline’s plight began last week when its fleet of 737 MAXs was repossessed by lessors, leading to the cancellation of all scheduled flights. This development was shared during the first creditors’ meeting on Friday, where CEO Tim Jordan apologised to passengers and staff impacted by the airline’s predicament.

Jordan reflected on Bonza’s achievements: “Bonza carried nearly 1 million customers to 22 destinations, many of those being large regional centres.” He continued, “We hope for a positive resolution for Bonza’s future. It is most appropriate today that I apologise to our wonderful Bonza team and partners who’ve supported us on this wonderful journey and the tens of thousands of customers who’ve made forward bookings. To each of you, I would like to apologise sincerely.”

Bonza’s financial obligations amount to debts owed to around 60,000 individuals and businesses, including $5 million to 323 staff members and nearly $16 million to trade creditors. Customers contemplating cancelling their flights after the suspension period ends next Tuesday were cautioned that such a decision might render them ineligible for future refunds.

The saga took another turn when a Bonza departed for North America earlier this week. This aircraft and another that had already returned to Canada were on dry lease from Flair, Bonza’s Canadian counterpart. The fate of the remaining four aircraft remains uncertain, with the possibility of them leaving Australia if the lessors decide to relocate them.

Despite these challenges, Hall Chadwick remains optimistic, stating they are “reviewing all available options to allow the resumption of the company’s operations.” The aviation community watches with bated breath as Bonza navigates through these turbulent times, hoping for a successful landing.