Bonza Airline Discussion

So it seems the aircraft owners/repossessors had their ears closest to the ground.

I guess the Directors are frantically trying to get bridging/last resort finance to tide them over but absent that, they will have to call Administrators in today, I think.
 
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It seems the lessor was separated/ split from 777 Partners in 2023.

And then shareholding changed again this month (10 April 2024)
 
From airliners.net and flightaware none of the planes have moved this morning.

VH-UIK is in MEL
VH-UJK is in OOL
VH-UJT and VH-UKH are in MCY

The Flair branded aircraft C-FLHI is also in MCY and did a short loop flight yesterday.
 
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ABC reporter just went live on radio, saying administrators have just been appointed in the last few minutes.
I love that people on the ABC blog have said the app has allowed them to check in for tomorrows flight.
 
Interesting the photo on the QLD Planespotters page has concrete blocks placed in front of each aircraft. I wonder if that is MCY doing that or the lessor. I remember Perth blocked Virgin aircraft during the bankruptcy
 
^ Wasn't there reports that the 4x VH registered Bonza aircraft were being ferried into BNE for ferrying out by lessors shortly?
 
It will be interesting to know the issue of the failure, it seems that 777 creditors in the US are going after any assets linked to 777. It looks like it was creditors that had the Bonza planes moved into the AIP Capital Joint venture which A-Cap took control of and has now repossessed the aircraft.

Very complex web of structures that made it hard for Bonza I suspect.
 
Interesting the photo on the QLD Planespotters page has concrete blocks placed in front of each aircraft. I wonder if that is MCY doing that or the lessor. I remember Perth blocked Virgin aircraft during the bankruptcy
It’s interesting isn’t it - apparently perfectly legal to block a creditor from accessing their secured assets because the company that leased those assets also owe you?
 
Interesting the photo on the QLD Planespotters page has concrete blocks placed in front of each aircraft. I wonder if that is MCY doing that or the lessor. I remember Perth blocked Virgin aircraft during the bankruptcy
And repossession orders taped to the doors too.
 
Interesting the photo on the QLD Planespotters page has concrete blocks placed in front of each aircraft. I wonder if that is MCY doing that or the lessor. I remember Perth blocked Virgin aircraft during the bankruptcy
Purely a little media spin from someone. If a vehicle is being repossessed, one can’t just block its wheels 🙄
 
It’s interesting isn’t it - apparently perfectly legal to block a creditor from accessing their secured assets because the company that leased those assets also owe you?
I don't know that it is perfectly legal. The whole point of a business going into Administration is to protect it from its creditors and ensure either a restructure or orderly liquidation, to prevent a creditor free-for-all where they're all grabbing at anything that isn't nailed down.
 

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