RIP Bonza
Good while it lasted…..
https://www.afr.com/companies/transp...0240430-p5fnjf I know it’s on a paywall - but you can get the drift …. |
The parent company that owns the aircraft leased to Bonza has repossessed the Fleet. Bonza may be the meat in the sandwich here. Seems that company was not making the payments but Bonza was. I dont know who owns who.
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In an interview with the ABC,a man from the Sunshine Coast, whose wife works for the airline, claimed 20 cabin crew were called into a meeting early on Tuesday and told the airline had “finished”. “She went to work this morning, as per usual, they just went in — there were two crews there — they were just basically told that Bonza has finished,” he told the ABC. “They’ve been told that they’re not flying until further notice. “They’ve all been told that the bottom line is that Bonza will no longer be flying |
Originally Posted by flopzone
(Post 11645746)
The parent company that owns the aircraft leased to Bonza has repossessed the Fleet. Bonza may be the meat in the sandwich here. Seems that company was not making the payments but Bonza was. I dont know who owns who.
Tim Jordan has been running an insolvency firm. Lies lies and lies for months. Watch him try to blame this on someone else. |
Are we really surprised? Honestly this was doomed from the start. All it did was give some jet hours to those that needed them and they can now move on to better prospects. Never been a better time to be made redundant.
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Originally Posted by Sameoldsameold
(Post 11645756)
Are we really surprised? Honestly this was doomed from the start. All it did was give some jet hours to those that needed them and they can now move on to better prospects. Never been a better time to be made redundant.
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Originally Posted by nomess
(Post 11645754)
777 offloaded its fleet to AIP recently. Bonza send payments to AIP. 777 don’t own aircraft anymore.
Tim Jordan has been running an insolvency firm. Lies lies and lies for months. Watch him try to blame this on someone else. Not quite, the Aircraft have been with AIP from day dot, with AIP being almost 50:50 owned by management and 777partners. On April 9 a new entity called phoenix aviation capital (interesting name) took over the 777 partners share. Phoenix is owned 100% by a U.S-based insurance and financial services holding company with approximately $11 billion of assets under management. |
Those with short memories have probably forgotten Tim’s statement just before launch that Bonza needed a load factor of 80% to pay all the bills and was very confident that would happen.
making a go of a couple of routes won’t support a network. I saw his BP before he secured 777Partners and it was pitching rapid growth tapping un or non serviced markets. shades of JetGo, Strategic, Sky World, Air Australia |
Amelia McGuireApril 30, 2024, • 09:22am |
It’s a shame, I think it’s great they gave it a go. But sadly seems to prove that Australia just does not have the market to support another major(ish) airline. It’s now been tried more times than I care to think about and always ends like this.
Hope the staff all land on their feet quickly. As someone else said, it’s probably the best time to be a qualified jet jockey in Australia. |
Very sad day for the staff and suppliers who are owed money as well as the public that even more so now are at the mercy of the Qantas close to monopoly.
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Commercial suicide not caused by those other parties.
the market speaks and those relatively small markets cannot sustain 185 seat jets that cost a bundle to run even with low maintenance but there are reserves and lease payments not to mention the fuel bills |
Yes, looks like it's a bust. History repeats.
Sorry for the staff that have to find a new job, however, I assume the head honchos have managed to add a couple zeros to their bank balances during Bonza's existence. |
Any Bonza guys/gals looking for an immediate opportunity in the USA, I have a good contact in Atlas. Please PM me.
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Just for info. Texel was looking desperately for 737-800 crew in Darwin !!!
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Now in VA...
Korda didnt want it - as was high risk |
Unlikely to see any new entrants for a long long time now. Financials will obviously be released shortly from the administrators, but the analysis I did in the prior month indicated it was bleeding heavily. That was at odds with Bonza had been claiming, and I held a strong belief they had been lying, to staff, suppliers and likely even its backer.
I do recall Tim Jordan tipped in some of his own cash, in the millions. I wonder where he sits on the creditor list. |
The business plan was always madness, you can’t put a high density Jet in thin routes like that at a low cost point.
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One of Australia’s resident aviation expert has been busy hitting the airwaves, with the demise of Bonza.
Thankfully Australia has Qantasflot to keep us flying! Remember how Qantas led by Geoff Dixon stepped up and saved the day when Ansett stopped operating. Brought a tear to my eye, not to mention the hip pocket! RIP Bonza. |
Originally Posted by Ollie Onion
(Post 11645958)
The business plan was always madness, you can’t put a high density Jet in thin routes like that at a low cost point.
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