Bonza hopeful for Queensland bailout but federal government support unlikely

A Bonza 737 Max aircraft in Melbourne. Administrators for the grounded airline are pinning their hopes on financial support from the Queensland government.A Bonza 737 Max aircraft in Melbourne. Administrators for the grounded airline are pinning their hopes on financial support from the Queensland government.

Asked about support from governments, administrator Richard Albarran said discussions were occurring with the federal government on a daily basis. “ is speaking to them two to three times a day at the moment so hopefully there will be some assistance… They want to know what’s the strategy for Bonza, who’s the purchaser, so there’s a few things that need to be dealt with with them and a potential purchaser,” Albarran said.

The aircraft were made available under lease agreements that were 49% owned by Bonza’s parent company, the US private investment firm 777 Partners. A reported breakdown in the relationship between 777 Partners and its financier, the US insurance giant Advantage Capital Holdings, known as A-Cap, led to a change in ownership structure of the leased aircraft last month.

However, discussions have begun to source new aircraft leases within three months or sooner, as well as short term leasing options “for a more immediate solution” in the interim.Our Australian morning briefing breaks down the key stories of the day, telling you what’s happening and why it mattersAmid a global shortage of planes and order backlogs, it’s unclear what models of aircraft have been offered.

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