Introduction
Bonza Airlines, once a promising budget carrier, now finds itself entangled in a web of financial woes. From abrupt flight cancellations to legal battles, the airline’s troubles have rippled across continents. In this article, we delve into the Bonza mess, tracing its origins from English soccer club connections to the US pension system.
The Rise and Fall
1. Everton Football Club Connection
Bonza Airlines shares a curious link with Everton Football Club. The private investment firm 777 Partners, poised to take over Everton, also owns airlines in Canada and Australia. This conglomerate had ambitious plans for Bonza, but reality took a nosedive.
2. Aircraft Repossession
In early 2023, 777 Partners leased four planes to Flair Airlines, a Canadian low-cost carrier partly owned by Bonza. These aircraft included three Boeing 737 Max 8s and one 737-800. However, outstanding fees led to a grim turn of events. The lessors repossessed the planes, disrupting Flair’s operations. Legal battles ensued, with Flair seeking damages from the intermediary company managing the leases.
3. Fleet Grounded
Fast forward to 2024, and Bonza faces a crisis. Its entire Boeing 737 MAX fleet was repossessed, resulting in widespread flight cancellations. Corporate insolvency specialists are now investigating the carrier’s viability. The lessors, including Corvus Lights Aviation Ltd, MAM Aircraft Leasing, and Columba Light Aviation Ltd, are chasing 777 Partners for almost US$30 million in unpaid leasing fees and damages.
4. Denials and Debts
Bonza denies reports of engaging financial advisors but remains silent on the matter. Meanwhile, the lessors persist in their pursuit, seeking US$28.5 million from 777 Partners. The figure includes damages, lost income, and costs related to repossessing and reconfiguring the aircraft.
Conclusion
Bonza Airlines, once a hopeful contender in the aviation industry, now grapples with uncertainty. As the legal battles unfold, passengers and investors watch closely. Will Bonza soar again, or will it remain grounded? Only time will tell, but for now, the departure boards remain eerily devoid of the once-prominent “Bonza” label.
