RIP Bonza
Where’s the accountability?
The following 7 users liked this post by Colonel_Klink:
A new joiner these days is looking at about a decade for an upgrade and will be spending much of it in Melbourne with a few more years back there as a skipper before BNE becomes available.
Nauru is owed $1m.
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And now we see why AIP Capital's latest leasing venture is called Phoenix Aviation Capital - it was planned that way all along. Let the 777 dumpster fire burn, take the assets and rise again from the ashes.
Didn’t they finance the Boeing order for 777 Partners?
They have essentially cancelled that finance contract with them and taken back in house, and have started a leasing arm. That wasn’t what Boeing originally wanted, so will be interesting to see if they keep the remaining order for about 20 MAX 200s.
It is clear that 777 did not have the financial capability to fund monthly lease bills for its subsidiaries any longer. Considering the high margin leasing market at the moment, Phoenix was likely born to take advantage of that. Bonza is just collateral in all this. Wouldn’t be surprised if the Bonza and Flair fleets have been shopped around behind closed doors for months. What a time to be a leasing company.
They have essentially cancelled that finance contract with them and taken back in house, and have started a leasing arm. That wasn’t what Boeing originally wanted, so will be interesting to see if they keep the remaining order for about 20 MAX 200s.
It is clear that 777 did not have the financial capability to fund monthly lease bills for its subsidiaries any longer. Considering the high margin leasing market at the moment, Phoenix was likely born to take advantage of that. Bonza is just collateral in all this. Wouldn’t be surprised if the Bonza and Flair fleets have been shopped around behind closed doors for months. What a time to be a leasing company.
Because rural and regional Australians would just shrug their shoulders and say So what? The Qantas mob has been ripping us off 365 days a year, over the last 25 years.
The following 3 users liked this post by antheads:
777 only took 6 aircraft from Boeing in the end, the Flair fleet has two, the other 777 flair birds they leased were repo’d last year.
Moderator
Not the liabilities part
Alliance was formed in a similar manner.
The Australian Financial Review has confirmed Vietnam’s VietJet was among (the six companies) looking at Bonza’s aircraft operator certificate, a crucial licence needed to establish a foothold in the domestic aviation market. Bonza, which began flying only last year, has few other assets, with its aircraft heading overseas to other carriers.
Two sources said VietJet had been looking at ways to expand into Australia, with an order of 66 Boeing 737 Max 8 aircraft, the first of which are due for delivery this year.
VietJet confirmed the airline – which arrived in Australia in April and flies 48 flights a week to Melbourne, Sydney, Brisbane, Perth and Adelaide – had walked away from talks.
Two sources said VietJet had been looking at ways to expand into Australia, with an order of 66 Boeing 737 Max 8 aircraft, the first of which are due for delivery this year.
VietJet confirmed the airline – which arrived in Australia in April and flies 48 flights a week to Melbourne, Sydney, Brisbane, Perth and Adelaide – had walked away from talks.
Quote edited to reflect current suitor numbers
-UKH flown out this morning at 8am, currently en route to PHE.