The Administrators would like to convey to all creditors affected by the Administration of the Company that they appreciate how difficult the uncertainty surrounding the matter is causing everyone at this time.

The Administration process is designed to maximise the chances of the Company or as much as possible of its business continuing in existence; or if this is not possible‚ to achieve a better result for the Company’s creditors than that which would result if the Company was immediately wound up.

Once the Administration process has run its course which is usually 4-5 weeks creditors will decide the future of the Company. Administrators have regretfully been advised that the Lessors will continue to enforce their rights under the termination notices and‚ subject to their own requirements and arrangements‚ seek to reposition the fleet elsewhere.

Update on the aircraft

As advised previously the Lessors of the Company’s aircraft are not willing to change their position with respect to the termination notices issued prior to the appointment of the Administrators and would be removing those aircraft from Australia. However‚ this has not yet taken place.

There is one plane‚ known as ‘Bruce’ that departed Australia yesterday. With respect to this particular aircraft the Company previously had a leasing arrangement for Bruce from a Canadian Company‚ to which the aircraft was registered.

This lease expired in February 2024 and the Company has not had a lease for this aircraft since that date. As such the Company did not have a lease in place in respect of ‘Bruce’ at the date of the Administrators appointment.

Update on Administrators Activities

The Administrators have continued to be in discussions and meetings with various investors‚ other airlines and Companies from the travel industry.

To date the Administrators have liaised with over 20 parties‚ the details of these parties and the discussions occurring are commercially sensitive and confidentiality agreements have been signed.

These discussions and meetings are occurring daily and they will continue over the course of the weekend and into next week.

Whilst the Company is without its aircraft the Administrators have cancelled flights up to and including 14 May 2024 and those impacted customers should not travel to the airport unless they have made other travel arrangements. In addition the Administrators stood down the majority of the Company’s employees up to and including 14 May 2024.

Further clarity with respect to further cancellation of flights and the timeframe for same and similarly any additional extension of the stand down with respect to employees will be dependent on the outcomes of the discussions and meetings occurring over the weekend.

The Administrators are continuing to work with these parties to find the best possible solution for all stakeholders.

In addition to the above‚ the Administrators have also attended to the following:

• Set up an enquiry line for customers
• Set up an enquiry line for employees
• Set up emails for various stakeholders

Initial Meeting of Creditors

The Initial Meeting of the Creditors of the Company took place earlier today.

Prior to the meeting‚ creditors including employees and customers submitted over 100 questions.

The Administrators answered a significant number of these questions at the meeting and also took live questions from creditors. The creditors meeting went for approximately 2 ½ hours.

The Administrators office will provide written answers to all questions received and this will be provided to creditors.

Government Funding

The Administrators have spoken with the Queensland Government late this afternoon and can confirm that their position is the same as that of the Federal Government.

Support for Customer

As previously advised the Administrators have established a dedicated phone line for all customer enquiries.

That number is 03 8678 1600 and is available 7am to 10pm AEST.

Email contacts for each class of stakeholder

We will continue to provide these email addresses so all stakeholders can contact the Administrators office.

• bonzaemployees@hallchadwick.com.au
• bonzacreditors@hallchadwick.com.au
• bonzasuppliers@hallchadwick.com.au
• bonzalessors@hallchadwick.com.au
• bonzacustomers@hallchadwick.com.au