Bonza administrators get two-month extension to save airline, employees remain in limbo

Bonza employees will remain stood down without pay and unable to accept other work for a further two months, after administrators were granted an extension to find a buyer for the troubled airline.

The administrator said that if the company went into liquidation, staff would be covered by the Fair Entitlements Guarantee but that would not include their superannuation entitlements. The administrators said if the airline entered liquidation, it was likely the Civil Aviation Safety Authority might cancel its air operator certificate .The court heard talks were still underway with two potential buyers and the negotiation of a sale agreement could take two to three weeks.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nearly 60,000 customers say they're owed cash as Bonza financial woes hit courtNearly 60,000 Bonza customers are in line to become creditors of the embattled airline as the budget carrier&x27;s financial struggles hit court.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Court hears Bonza owes money to almost 60,000 customers, hundreds of staff, 120 suppliersMore details emerge over the full extent of the budget airline's collapse with nearly 60,000 customers and 120 suppliers owed money.
Source: abcnews - 🏆 5. / 83 Read more »

Bonza administrators ask for more time to save stranded budget carrierThe airline’s owner, 777 Partners, and its financiers are mired in legal action in Britain and the United States over its aviation assets.
Source: FinancialReview - 🏆 2. / 90 Read more »