Bonza will ground its entire fleet until later this week pending discussions on whether the budget airline will be able to operate during its voluntary administration period. ASIC documents show the low-cost carrier, which was founded in late 2021 and only began flying last year, is now in external administration. Administrators Hall Chadwick said the…
KSK Mahanadi Power Company through its Resolution Professional’s (RP) counsel informed NCLT, Hyderabad, on Monday, that a change of circumstances warrants a fresh invitation of bids under the corporate insolvency resolution process (CIRP) for KSK Mahanadi Power, which was admitted into insolvency in October 2019.One of the prospective resolution applicants (PRAs) of KSK Mahanadi, Megha…
A subsidiary of an Australian tech and media start-up that had $12 million worth of investment poured into it has collapsed. Last month, E-Mersion Media (Aust) Pty Ltd went into administration, with all its operations ceasing and staff stood down immediately. E-Mersion Media, based in Melbourne and with offices also in the UK, captured investors…
Indian Institute of Insolvency Professionals of ICAI (IIIPI) has decided that the peer review of Insolvency Professional Entities (IPEs) would henceforth be undertaken using a two-fold approach. While the first one would be on the work done by IPE as an IP (conducting assignments under the IBC), the additional one, decided now, would be on…
In short: Administrators for Bonza Aviation say they are “not in a position to process or issue refunds at this time”. They say the company’s aircraft have been grounded until Thursday. What’s next? The government says Qantas, Jetstar, and Virgin said they would bring stranded passengers home. Bonza’s aircraft fleet is grounded until at least…
May 1, 2024 5.49pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Bonzas administrator Hall Chadwick said neither it nor the company is in a position to provide refunds to Bonza passengers, after the airline entered voluntary administration on Tuesday. Bonzas…
Transport Workers’ Union (TWU) national assistant secretary Emily McMillan labelled the move to not pay workers “disgraceful.” “The shock of Bonza falling into administration has barely subsided and workers are being forced to enter Centrelink queues,” she said. Bonza received default notices two weeks before it cancelled all flights without notice and went into voluntary…
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…
By Freddy Pawle For Daily Mail Australia Published: 12:23 AEST, 1 May 2024 | Updated: 00:08 AEST, 4 May 2024 A warning has been issued to customers of budget airline Bonza after it was placed into voluntary administration. Travellers were left stranded in airports across Austral… Read the full article at: https://www.dailymail.co.uk/news/article-13369043/Bonza-refund-Expert-makes-grim-admission-Aussies-hoping-money-budget-airline-went-voluntary-administration-cancelled-flights.html
Many Australians have been left stranded at airports across the country after budget airline Bonza “temporarily” suspended all flights on Tuesday. The company entered voluntary administration within hours of the cancellations, and the administrators have since confirmed the fleet will remain grounded until Thursday, May 2. Here’s what we know so far. First up, what is…