Airlines for Australia and New Zealand Chair Graeme Samuel has outlined a potential process for Bonza to re-enter the market after it entered voluntary administration. On Tuesday, Bonza submitted paperwork to the Australian Securities & Investments Commission (ASIC) to appoint administrators to salvage the wreckage of its struggling business. Speaking to Business Now host Ross…
A village sports centre has had to shut after its management company announced it would be going into liquidation. Melbourn Sports Centre, on the grounds of Melbourn Village College, in Cambridgeshire, first opened in 1991. Staff announced the closure with “shock and sadness”, in a statement on the centre’s website. Melbourn Village College – a…
Bonza has entered voluntary administration hours after suspending its flights earlier today. An internal note sent by airline CEO Tim Jordan, obtained by the AFR, confirmed that its fleet was repossessed by its aircraft lessor at 3am, as widely speculated. However, the message added the news came as a surprise to both Bonza and owners…
Low-cost airline Bonza has entered voluntary administration after passengers were met with signs saying their flights had been abruptly cancelled on Tuesday. People were left stranded as planes were repossessed, with vision showing them being towed from the tarmac. CEO Tim Jordan apologised as he advised all services were “temporarily suspended” while he determined the…
Indias Ministry of Corporate Affairs has issued a circular inviting public comment on seven regulations associated with the Insolvency and Bankruptcy Code (IBC). Public feedback will be sought for a period of 30 days starting April 18, 2024. Indias corporate affairs ministry (MCA) has proposed regulatory changes on various aspects of the Insolvency and Bankruptcy…
The low-cost airline Bonza entered voluntary administration on Tuesday, after abruptly cancelling all of its flights following the repossession of its entire fleet that caught its CEO by surprise. Passengers were left stranded at a handful of airports when Bonza temporarily suspended all services due to be operated on Tuesday with no notice, as the…
The future of one of the airlines servicing Newcastle Airport has been thrown into doubt. The budget carrier Bonza has now entered voluntary administration after cancelling all of its flights on the east coast of Australia on Tuesday morning. Passengers, including those travelling between Newcastle, the Sunshine Coast and Whitsundays, were left stranded when the…
Normal text sizeLarger text sizeVery large text size Bonza has entered voluntary administration after the company that owns its aircraft lessor tried to repossess its planes, leaving hundreds of travellers stranded across the country on Tuesday. Passengers wanting to fly from the Sunshine Coast, Melbourne, Gold Coast and Avalon arrived at the airports on Tuesday…
: RusAviaInsider Russias State Transport Leasing Company (GTLK) in its 2023 IFRS report has admitted the loss of 2.49 billion roubles as a result of liquidation of its two Irish subsidiaries last year. In compliance with IFRS 10, as a result of the May 31, 2023 decision taken by the High Court of Ireland ordering…
More and more home builders are collapsing across Australia as soaring materials and labour costs cripple the companies working desperately to meet the countrys surging demand for houses. Data from the Australian Securities and Investments Commission shows a gathering pace of construction insolvencies in the past three years, with 2196 builders going bust in the…