Air Vanuatu in Financial Trouble as Receivers Called In

The Vanuatu government has placed its flagship air carrier into liquidation in response to a “challenging period.” Flights will stop immediately, with many antipodean passengers left stranded away from home. Ernst & Young (EY) confirmed via a statement they had been appointed voluntary liquidators of the airline which has 362 employees, and said it came after a “challenging period for the global aviation industry, including labour shortages, inflation affecting input costs and a global increasing cost of credit environment.” “Air Vanuatu has been particularly affected by disruption of tourism activity due to cyclones,” read the statement. Air Vanuatu said all flights scheduled for this week were cancelled, and from Sunday, flights were “under review.”...