Bonza Airline Discussion

[HS-TQE]

MCY-CNS on JQ could probably be timed to connect into the KIX/NRT bank on certain days

(Although one way i.e connect outbound towards KIX/NRT on Mon/Wed, and inbound towards MCY on Tue/Thur).

 

[moa999]

don't fully understand 777P / AIP model but it seems to partially be a Berkshire Hathaway / Buffet play in using insurer/ reinsurer funds to invest in higher yielding (and higher risk).assets

Boom

Private Equity Firm Behind Failed Australian Airline Bonza Has Been Accused of Multi-Million-Dollar Fraud in a New York Court

The private equity firm behind the failed Australian low-cost airline Bonza, which collapsed into administration last Tuesday, has been accused of a multi-million-dollar fraud in a new lawsuit filed in a New York court on Friday. Miami-based 777 Partners describes itself as a private investment...

www.paddleyourownkanoo.com

 

[33kft]

With all credit to someone on the "Scum of the Air" Facebook group:

 

[dajop]

Was just cleaning out my junk mail, and noticed an email from Bonza from two weeks ago with the below heading. Prophetic. They knew it was their "final days" but were still selling?

 

[Saab34]

Sale for a position in the creditors queue is all that was

 

[fly2earth]

This was on my Facebook feed, they are literally blocking the whole aircraft now.

But who is doing this? If the lessor has repossessed them? Why do they need to block them off? What’s the airline going to do? Fly them off somewhere? They are not Bonza’s. What the heck is Bonza doing to do with them? Worried the administrator will take them perhaps?

Or is this MCY airport doing this due unpaid bills?

View attachment 383208

Ironic how the airplane is called Sheilla

Post automatically merged: May 6, 2024

Was just cleaning out my junk mail, and noticed an email from Bonza from two weeks ago with the below heading. Prophetic. They knew it was their "final days" but were still selling?

View attachment 383752

Got to pull The Inside Man (while dancing on a moving train and singing Chaiyya Chaiyya)

 

[fly2earth]

Probably not just the degree of risk, but the "lumpy" nature of potential claims. Most travel insurance incidents are relatively regular and affect a relatively small number of people for each one (a plane load or two being about the maximum). The regularity means that the cost of claims can be factored into the cashflow, and likely covered. Things that come much less regularly but are catastrophic are much more problematic.

General insurers deal with this by using reinsurance - they will take the first $x million exposure pre event, and pay reinsurers to cover the rest. Whilst a bushfire or earthquake here might be infrequent and expensive, there are fires, earthquakes, floods, tsunamis around the world on a somewhat regular basis, so reinsurers can handle it.

On a more practical note, unless actually stranded mid-trip, using a credit card to purchase tickets offers some coverage. At least you can get your money back for the ticket. Doesn't help for lost accommodation, purchasing a more expensive replacement or other inconvenience, but at least it is something.

Those policies that do cover insolvency of providers seem to place a cap on the liability - which is a lot less than the potential medical expenses on a single claim basis, but obviously adds up. They also contain conditions that you need to pursue other avenues to receive refunds etc. - so they will be pushing lots of people down the credit card charge back route as well.

Technically not entitled to a refund because Qantas is providing them rescue flights so the flight is technically "transferred" to Qantas. If they do that they have to tell the CC companies that they got their service and then the CC company will then decide whether to reimburse them or not. There is no such thing as a free lunch

 

[Saab34]

In March it seems 777 Partners cracked it and advised its internal reps to ‘wind it up’. Interesting that Bonza management was not aware of this and only got wind of it via a email leak. Then it was pretty much all mayhem after that.

Another article mentioned the original plan was intended as a LCC operating 72 seat ATRs. I guess that might have worked (?)

Seems like it was the airline that was never meant to be. Not sure why it even started.

Bonza’s backers plotted to ‘get the planes out’ and ‘wind this up’

Leaked documents show the writing was on the wall for the budget carrier weeks before it collapsed, and suggest co-ordination between its financiers and owners.

www.afr.com

 

[Albert Hoffman]

The Flight Attendants' Association of Australia have started a fundraiser for Bonza Cabin Crew, who have not been paid for their last month's work.
https://www.gofundme.com/f/support-b...crew-in-crisis

AFAIK they haven't been able to access Centrelink because they haven't lost their jobs, just 'stood down'.

 

[Harrison_133]

Court documents reveal that Bonza has around 58,000 forward bookings.

At full capacity, that would fill around 312 flights. For context, Bonza have been scheduling around 800+ sectors per month.

No wonder 777 wanted to pull the plug...

Source: https://www.news.com.au/travel/that...ws-story/7d08b3ed047e895c3fffee11600d16ac?amp

 

[Mattg]

Court documents reveal that Bonza has around 58,000 forward bookings.

At full capacity, that would fill around 312 flights. For context, Bonza have been scheduling around 800+ sectors per month.

No wonder 777 wanted to pull the plug...

Source: https://www.news.com.au/travel/that...ws-story/7d08b3ed047e895c3fffee11600d16ac?amp

Could a booking be for a return flight and/or multiple passengers?

Still...

 

[oz_mark]

Another article mentioned the original plan was intended as a LCC operating 72 seat ATRs. I guess that might have worked (?)

Seems like it was the airline that was never meant to be. Not sure why it even started.

Even a small jet might have worked. The 737 always seemed too big for what they were doing.

 

[Saab34]

Court documents reveal that Bonza has around 58,000 forward bookings.

At full capacity, that would fill around 312 flights. For context, Bonza have been scheduling around 800+ sectors per month.

No wonder 777 wanted to pull the plug...

Source: https://www.news.com.au/travel/that-would-require-a-stadium-number-of-customer-caught-up-in-bonza-collapse-revealed/news-story/7d08b3ed047e895c3fffee11600d16ac?am

Considering the Bonza loads, that would probably be around a month worth of passengers.

They only had bookings available until September from memory.

That does seem to be a real alarmingly low number of forward bookings however. I guess heading into winter sort of expected when you look at their route network.

 

[Quickstatus]

Even a small jet might have worked

Ask ZL, they have the answer.
I would also be surprised if ZL does not regularly investigate potential airport pairs.

Whether they have spare Saabs and aircrew is another question. Pity they are not in production any more

 

[oz_mark]

Ask ZL, they have the answer.
I would also be surprised if ZL does not regularly investigate potential airport pairs.

Whether they have spare Saabs and aircrew is another question. Pity they are not in production any more

I was actually thinking Air North that seems to have eeked out a niche.

 

[Quickstatus]

Air North

Yep and they have been around a very long time.

Are the Embraer 30 seaters still in production?

 

[Ansett Nostalgic]

We really need a replacement for the Saab 340 to be made.

 

[Aussie_flyer]

Yep and they have been around a very long time.

Are the Embraer 30 seaters still in production?

No. The only thing around is ATR42 which is quite a bit larger.

 

[moa999]

The shorter low pax routes are likely first for electric aircraft, but it's still a few years awaym

 

[Mattg]

Whether they have spare Saabs and aircrew is another question.

They do not. Rex has had to significantly cut Saab 340 services over the past year or so citing supply chain and pilot shortages.