Bonza Airline Discussion

[dajop]

Thought they were doing ok. Then they got greedy added OOL, fecucked that up, destroyed their reputation and also cannibalised their regional MCY services with too much supply.

 

[Scarlett]

So that’ll be that then. ABC = AB curse. (see also Air Berlin)

 

[CorporateFlyerMEL]

Did you get the refund im
So stressed have got nothing backed

suggest you dispute/do a charge back on your credit card if getting nothing out of merchant

 

[Saab34]

Thought they were doing ok. Then they got greedy added OOL, fecucked that up, destroyed their reputation and also cannibalised their regional MCY services with too much supply.

I think it’s too much for that catchment to handle. Eg operating from both MCY and OOL to MKY/ROK/TSV/PPP/AVV/CNS

They did talk about not going up against the others, but then they launch OOL-AVV. So going up against another player on a secondary ‘thin’ market that is already historically known as marginal. I think they are too easily persuaded by cheap deals from airports. Going head to head against the others on main trunk routes with big pax numbers is one thing, but challenging someone on a Avalon route is just bizarre.

Another article mentioned they are about to announce ‘consolidation’ as early as today. I assume that means ditching everything that burns cash

 

[Harrison_133]

Looks like something is up. The app is now showing the following frequencies for flights to/from Gold Coast for all of May and June:

• Three times per week: Townsville
• Twice per week: Rockhampton, Albury
• Once per week: Cairns, Proserpine, Darwin, Launceston, Avalon, Tullamarine, Mildura
• No flights: Mackay, Mount Isa

 

[Brissy1]

article on the AFR that Bonza’s financiers have called on restructuring advisory KordaMentha to provide them with advice about the ongoing operations...

Oh, Kordamentha...they did the Ansett receivership

 

[henrus]

Looks like something is up. The app is now showing the following frequencies for flights to/from Gold Coast for all of May and June:

So it seems they have further cut OOL frequencies, what's interesting is the load factors (100% is full flight) for bookings in May for flights departing OOL as at today:

 

[jrfsp]

article on the AFR that Bonza’s financiers have called on restructuring advisory KordaMentha to provide them with advice about the ongoing operations...

Bonza slaps down reports financial advisory firm appointed

Bonza CEO Tim Jordan has said the carrier currently has no relationship whatsoever with financial advisory firm KordaMentha following a report in The Australian Financial Review.

australianaviation.com.au

Bonza saying its not true .......

 

[Harrison_133]

Flights are re-appearing on the app for the Gold Coast routes in May and June, but in most cases they're completely changing the operational days (and flight times) to accomodate lower frequencies with just once based aircraft. That's going to burn a few bridges with the punters.

It's still patchy, but OOL-MKY/ISA aren't being cut and most routes appear at a minimum of twice a week.

In a 7 News report, Bonza were also trying to claim that they had just 7 cancellations for the month of March, which is patently false given they were cancelling up to 6 flights a day to/from the Gold Coast. A bit of mental gymnastics from the Bonza PR team there.

 

[FruitySnack]

Bonza slaps down reports financial advisory firm appointed

Bonza CEO Tim Jordan has said the carrier currently has no relationship whatsoever with financial advisory firm KordaMentha following a report in The Australian Financial Review.

australianaviation.com.au

Bonza saying its not true .......

My sources agree and tell me no such financial advisors have been brought in. It's a strange one, because you'd think they must have got the story from somewhere.

 

[Saab34]

Hmm. Nice try Bonza, but I’m skeptical. The name mentioned is legitimate, and has overseen previous collapses, not just during, but prior. They referred to a specific person also, someone who deals with these specific cases. It sounds like Bonza has been talking to them to get advice, and this was clearly meant to be private, and has leaked.

Korda did some work with Air Australia in the prior weeks to its administration. Here is it what the boss said when similar articles started to leak.

Don’t forget, any company will always try to dispel any press like this, bookings will evaporate very quickly!

HOURS before Air Australia was grounded last Friday, director Michael James urged staff to ''ignore speculation'' and told them it was ''business as usual''.

In an email on Thursday headed ''A message from Michael'', Mr James told staff that like any airline in its infancy, it was managing costs and opportunities carefully.

''Please ensure that you and your colleagues understand that the only correct information regarding our company's performance or group strategic developments will come from me,'' Mr James wrote in the email, obtained by Fairfax Media.
All other unattributed rumour is exactly that, distracting speculation raised by those without our best interests at heart.''

Staff have since accused Mr James of deception, saying he must have known about the airline's dire financial problems.

 

[CorporateFlyerMEL]

note the article referred to financiers seeking advice, so Bonza saying no (direct) contact with KM may be correct

 

[oz_mark]

It's not all bad news....

https://www.facebook.com/AnsettANA/posts/pfbid09tvYjZhnnFn1aH6NL1fH6KgTZAWUq964ZYitj1eLAhveg4d4JxQjjjzfnMPY9RDNl

 

[UP4014]

Suggest to all that people hold off making any further bookings with Bonza.

The rumour mill is running hot that maybe only days to go before financiers have had enough.

At least Virgin or QF are preparing staff ready to offer cheap rescue flights to stranded passengers.

 

[moa999]

The rumour mill about calling in KM, is almost as much as a death knell about actually calling them.

 

[tcasfail]

In a 7 News report, Bonza were also trying to claim that they had just 7 cancellations for the month of March, which is patently false given they were cancelling up to 6 flights a day to/from the Gold Coast. A bit of mental gymnastics from the Bonza PR team there.

That's very sneaky. From the 13th-16th I'm showing 20 cancelled flights from the Gold Coast Airport website, all to be operated by a 733. I also find it interesting how 'the Nauru lease ended due to aircraft unavailability' it seemed to be quite abrupt...

 

[HS-TQE]

That's very sneaky. From the 13th-16th I'm showing 20 cancelled flights from the Gold Coast Airport website, all to be operated by a 733. I also find it interesting how 'the Nauru lease ended due to aircraft unavailability' it seemed to be quite abrupt...

More likely Nauru got a better wet lease contract/deal and/or Bonza was allegedly behind on wet-lease payments. Wet-leases don't come cheap.

 

[Harrison_133]

More likely Nauru got a better wet lease contract/deal and/or Bonza was allegedly behind on wet-lease payments. Wet-leases don't come cheap.

I'd wager it's the latter point because Nauru's passenger aircraft aren't really doing anything extra outside of their regular scheduled service.

 

[FruitySnack]

I notice all their job ads have been removed. Coincidence?

 

[Saab34]

Can the finance experts advise what happens to all the forward revenue if it collapses into Voluntary Administration?

Does that revenue essentially just go to the creditors, namely 777 Partners, who hold all the loans they have taken out? I assume they might hold 50-100m of forward revenue.