Bonza Buyer Interest Claim Despite Sky-High $110 Million Debt

Published on May 11, 2024

Administrators for beleaguered budget carrier Bonza insist there are still multiple parties interested in buying the cash-strapped airline despite it owing about $110 million (US$72.7 million). The extent of the low-cost airline’s financial woes were laid bare at its first creditors’ meeting in Sydney on May 10. Bonza owes nearly $77 million (US$51 million) across two loans, almost $16 million (US$10.5 million) to trade creditors and another $10 million (US$6.6 million) to landlords. Other debt include more than $5 million (US$3.3 million) in staff wages and annual leave entitlements and $3 million (US$2 million) to government authorities such as the Australian Taxation Office. Plane lessors, who sparked a crisis of cancellations at Bonza by terminating agreements and repossessing aircraft, are owed $4.6 million (US$3 million)....

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