Budget airline carrier Bonza has entered voluntary administration less than 18 months after launching its first passenger flights.
Bonza announced its sudden collapse on Tuesday, leaving thousands of passengers stranded as the airline grounded its fleet across the country.
Leading accountancy firm Hall Chadwick will act as administrators and assess whether the troubled carrier has a viable future in Australia’s competitive airline market.
Bonza chief executive Tim Jordan apologised on Tuesday morning to affected travellers, but he was unable to confirm if or when operations would resume.
“Bonza has temporarily suspended services due to be operated today, as discussions are currently under way regarding the ongoing viability of the business,” he said.
“We apologise to our customers who are impacted by this and we’re working as quickly as possible to determine a way forward that ensures there is ongoing competition.”
The administration process involves an external party taking control of the company’s operations and assessing its financial situation to determine whether the business can be saved.
Hall Chadwick specialises in restructuring businesses.
“Hall Chadwick provides expert advice and solutions on the best way…