Bonza's staff - the wait continues

BTN News
Wednesday, 08 May 2024


As many as 20,000 out-of-pocket customers could join a creditors meeting this week, Hall Chadwick said, while as many as 57,933 'future passengers' would be considered contingent creditors for the administration process, as would 120 trade creditors and 323 Bonza employees.

A key reason for the grounding extension is the status of six leased Boeing 737 MAX 8 aircraft operated by Bonza that are expected to return to North America and then be offered to other airlines.

Of the six jets, four were directly leased to Bonza by an arrangement that was 49 per cent owned by US private investment firm 777 Partners, Bonza's parent company. The other two were leased from Canadian carrier Flair, which is (or was at the time) part-owned by 777 Partners.

A reported breakdown in the relationship between 777 Partners and its financier, the US insurance firm Advantage Capital Holdings (A-Cap) prompted a change in the ownership of the leased aircraft in April, not long before Bonza entered administration on April 30.

A new US holding company owned by A-Cap, Phoenix Aviation Capital, has since taken full ownership of the MAX jets and is in process of recalling the planes from Australia.

Bonza's staff - the wait continues

BTN News
Wednesday, 08 May 2024


As many as 20,000 out-of-pocket customers could join a creditors meeting this week, Hall Chadwick said, while as many as 57,933 'future passengers' would be considered contingent creditors for the administration process, as would 120 trade creditors and 323 Bonza employees.

A key reason for the grounding extension is the status of six leased Boeing 737 MAX 8 aircraft operated by Bonza that are expected to return to North America and then be offered to other airlines.

Of the six jets, four were directly leased to Bonza by an arrangement that was 49 per cent owned by US private investment firm 777 Partners, Bonza's parent company. The other two were leased from Canadian carrier Flair, which is (or was at the time) part-owned by 777 Partners.

A reported breakdown in the relationship between 777 Partners and its financier, the US insurance firm Advantage Capital Holdings (A-Cap) prompted a change in the ownership of the leased aircraft in April, not long before Bonza entered administration on April 30.

A new US holding company owned by A-Cap, Phoenix Aviation Capital, has since taken full ownership of the MAX jets and is in process of recalling the planes from Australia.