Bonza Airline Discussion

[markis10]

US authorities investigating whether budget airline Bonza was funded with money meant for football teams

Investigators are examining why some money destined for a private investment firm's football teams instead went to Bonza. The airline collapsed barely a year after it launched.

www.abc.net.au

Surprise surprise, 777 partners seem to always be moving dodgy money around

Not anymore, went into bankruptcy overnight

 

[Cynicor]

Finally. They seemed dodgy as.

 

[Saab34]

Bonza 737s are slowing entering service with LOT.

Bonza seats remain

 

[HS-TQE]

I'd assume the LOT branded bulkheads are kept when LOT reacquired those MAX-8s from Bonza.

Bonza didn't bother removing the LOT branded bulkheads when those 4x MAX-8s were in service for them.

 

[Saab34]

My old folks just flew into LHR on one of the ex Bonza 737s. They said the same recaro seats but the purple headrests had been changed to navy and a new leather had been upholstered also. was ex VH-UKH

 

[markis10]

My old folks just flew into LHR on one of the ex Bonza 737s. They said the same recaro seats but the purple headrests had been changed to navy and a new leather had been upholstered also. was ex VH-UKH

Ex UIK flew to LHR 24/13, that’s the only visit recently

 

[Saab34]

Was mid dec.

 

[Saab34]

ASIC declines to prosecute Bonza despite liquidator's insolvent trading claims​

ASIC declines to prosecute Bonza despite liquidator's insolvent trading claims - ABC News

amp.abc.net.au

 

[CaptJCool]

ASIC declines to prosecute Bonza despite liquidator's insolvent trading claims​

ASIC declines to prosecute Bonza despite liquidator's insolvent trading claims - ABC News

amp.abc.net.au

With barely 2,000 staff
That would be why

Protecting current corporates autonomy from the parlious state of the system is more important than punishing a failure

F…. ING liberal parents
Way too forgiving

Now if only the powers that were conservative …

 

[eastwest101]

With barely 2,000 staff
That would be why

Protecting current corporates autonomy from the parlious state of the system is more important than punishing a failure

F…. ING liberal parents
Way too forgiving

Now if only the powers that were conservative …

Exactly - no point having the laws if the regulator is too lazy/incompetent to enforce them, may as well not have the laws at all, sack all the people working in the regulator and use the money elsewhere. If we are going to have no corporate law enforcement may as well not spend the money on ASIC.

 

[XWu]

The decision by ASIC is no different from any DPP or even the police officers, where they drop prosecution and enforcement of a case with no guarantee of a win (both in the courts and the public eye) with covering of cost and staff tied up and essentially no material penalty to those being prosecuted nor compensation or benefits for those being maligned by the perpetrators.

It does make sense that they are targeting those who are still trading and they believe shouldn’t. They have a few big fishes to fry (yum!) atm, so Bonza is lucky to escape immediate scrutiny, although ASIC did leave a back door unlocked in case they come across “new evidence “

No regulators will be so fully funded to chase every dodgy dealers… or at least not that I know of anyway

 

[moa999]

Don't think the number of staff come into it.

But not overly surprised with that decision.

I suspect as a startup Bonza was almost always loss making but they had a promise from their major shareholder (777 Partners) to continue funding losses.

So long as the Directors monitored that and put Bonza into administration the minute this was no longer true, and had no ability to access other funds, then hard to make a case for trading while insolvent.