While grounded Bonza is unlikely to get its fleet of Boeing 737 Max 8 jets back from the lessor AIP Capital, Australia needs the airline to get back in the air so holidaymakers can enjoy the Bonza effect.
That effect has saved almost one million travellers more than $125 million on the airline’s first anniversary. On some routes where it did compete with established airlines the Bonza effect reduced fares by over 54 per cent.
However, challenges remain. In a statement issued on May 7, the airline’s administrator Hall Chadwick said that the lessor “will continue to enforce their rights under the termination notices” and it’s likely that AIP will position the fleet of four 737 Max jets.
In a tight aircraft market, AIP can get far more for the leases in the USA and Europe.
However, Hall Chadwick added: “Notwithstanding this‚ the administrators are reviewing all available options to allow the resumption of the company’s operations. They will continue their efforts through discussions with interested parties‚ potential investors‚ and other airlines.”
AirlineRatings.com understands that several parties have serious interest in the airline as the Bonza model works and most of the airline’s flights have been full. It is also understood from sources in Canberra that one of those parties comes with aircraft assets.
Bonza has opened up new routes and generated new traffic and the feedback from passengers has been excellent – particularly for a low-cost airline.
While Airlineratings does not support any government assistance for Bonza’s original backers 777 Partners it does urge more support for Australia’s critical aviation industry.
With Australia’s vast distances, sparse population and hostile environment robust airlines are essential to connect communities and Bonza was bringing new services to many regional communities as well as feeding new traffic to tourism destinations.
When COVID hit AirlineRatings.com was the only media publication that warned that the Australian government needed to do more to assist its airlines and that it should have saved Virgin Australia and given Qantas far greater assistance as our airline’s competitors were getting far greater help from their governments.
For instance, Government-backed and majority-owned Singapore Airlines was able to raise $23 billion to survive COVID and when full flights resumed was able to operate as if nothing had ever happened.
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