Vital Tasmanian regional flight routes at risk as Rex goes into voluntary administration
Tasmanian Premier Jeremy Rockliff has expressed concern
What happens to Velocity frequent flyer points?
After news broke on Monday afternoon that Virgin was facing imminent collapse, the Velocity website crashed as members flooded the online store to redeem their points for products and gift cards before it was too late. By Tuesday morning the online store redirected to another page stating that “redemptions have temporarily been paused”. The company…
Star Entertainment faces voluntary administration without a solid lifeline. What does that mean?
Star Entertainment needs money — urgently. The company has been walking a tightrope of financial difficulty for months and all signs point to the casino operator losing its balance and falling into administration this week, experts warn. It entered a trading halt on Friday after missing its deadline to report its half-year results to the…
Bonza susends services and enters administration
The future of Australian low-fare carrier Bonza is in limbo with the airline announcing on Tuesday 30 April that it was entering voluntary administration and had grounded all its flights. In a fiercely competitive market, dominated by the likes of Qantas and Virgin, the airline, which launched in January 2023 had reportedly transported more than…
‘An absolute tragedy’: Popular Aussie brewery, Black Hops Brewing, nears collapse
Black Hops Brewing, an acclaimed Australian brewery stocked in bottle shops across the country, has decided to enter voluntary administration due to escalating tax debts. The move comes as a shockwave amid a surge of breweries facing similar financial strains, marking a significant setback for the company’s operations. The gold coast Bulletin reported on Thursday…
Rex Airlines enters voluntary administration, cancels all flights between major airports
Thousands of Rex customers are scrambling to find new flights after the airline went into voluntary administration and cancelled trips between major city airports. However, Rex’s regional flights are operating as usual and a rival airline has chipped in to help get its capital city route customers onto alternate flights. WATCH THE VIDEO ABOVE: Rex…
Shares in Star Entertainment suspended from trade as casino operator remains on brink of collapse
Shares in Star Entertainment have been suspended from trading on the stock exchange after it failed to lodge its financial results. Exchange operator ASX automatically suspended shares in Star on Monday morning after the casino operator missed Friday’s deadline for issuing its earnings update for the first half of the financial year. The future of…
Bonza’s aircraft leave the country after embattled airline’s fleet repossessed
In short: Bonza’s fleet of 737-Max 8 aircraft is being relocated overseas after the owners terminated the airline’s lease agreement. Administrator Hall Chadwick attempted to negotiate a short-term agreement with the lessor to get the airline up and running again but was unsuccessful. What’s next: The first creditors’ meeting will be held on Friday, May 10 as the administration…
US fast food chain Carl’s Jr. enters voluntary administration in Australia
Twenty Carl’s Jr. restaurants will immediately close after its Australian licensee entered voluntary administration. David Hardy, George Georges and Emily Seeckts from KPMG Australia were appointed administrators of CJ’s Group on Monday. According to a statement from KPMG, the administrators have assumed “day-to-day control” of the company and are undertaking an “urgent assessment of the…
Virgin announces Gold Coast sale weeks after Bonza bust
Virgin has nestled into the gap left by Bonza going bust with a heap of deals into the gold coast. A sale announced on Monday only applies to Tuesday, Wednesday and Thursday flights to/from sydney, melbourne, Adelaide and Canberra but for dates between June and December. With no checked baggage included, fares start at $69…