Administrators ask for another two months to sell Bonza

Bonza’s administrators are seeking a two-month extension to their appointment as they continue to search for a buyer for the grounded low-cost airline. Hall Chadwick has filed documents with the Federal Court asking to continue as administrators for Bonza until at least 29 July, with a second creditors’ meeting to be held prior to 5 August. The move comes as Bonza’s parent company 777 Partners indicates interest in restructuring the airline. An extension of the administration would leave Bonza staff without pay for two more months, as they cannot claim certain benefits until the company is wound up, but would give the airline a better chance of ultimately finding a buyer and returning to the sky. “[The] main purpose of the extension is to provide the administrators with further time to conduct a sale process for the companies’ business and assets,” Hall Chadwick told Bonza creditors. In the court documents, seen by The Australian, Hall Chadwick noted Bonza’s most valuable asset is its air operator’s certificate (AOC). The airline had leased all its planes, with all but one – VH-UJK “Sheila” – now having left the country, and its AOC would risk being cancelled if the company is liquidated.<br/>