Bonza's Future in Doubt as Australian Airline Cancels Flights [BNN Bloomberg (Canada)]
Boeing Company (The) (BA)
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Source: BNN Bloomberg
“Discussions are currently underway regarding the ongoing viability of the business,” Bonza Chief Executive Officer Tim Jordan said in a statement on Tuesday. The airline is working “to determine a way forward that ensures there is ongoing competition in the Australian domestic aviation market,” he said. The Australian Financial Review reported earlier that Bonza's fleet of Boeing Co. planes had been repossessed by creditors. After launching last year, Bonza had focused on dozens of new or little-used holiday routes aimed at the local market. But doubts grew about the airline's ability to fill large jets serving small populations, as well as the accessibility of its app-only booking process. The carrier last week denied a newspaper report that it had appointed KordaMentha, best known as a restructuring specialist for financially stressed companies, as a financial advisor. The fate of Bonza also raises questions about its parent 777 Partners. The Miami-based firm had laid out
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