Virgin and Qantas have offered to repatriate those stranded away from their home airports when all Bonza’s flights were suddenly cancelled this week. Virgin confirmed about 1000 passengers took up the airline’s offer. The two competitors have also offered to employ the budget carrier’s staff, of which there are about 350 people.

Bonza is owned by Miami-based private equity business 777 Partners, which launched the airline during the COVID-19 pandemic with long-term leases for six Boeing 737-Max 8 aircraft.

Two of the original planes in its fleet were redirected to other 777 airlines at the end of last year. On Tuesday, Bonza’s remaining four aircraft were seized by AIP Capital, an investment house owned by the parent company of 777 Partners, ACAP, to recoup money owed to investors.

AIP confirmed the aircraft had been transferred to a new vehicle, Phoenix Aviation Capital, which is owned by insurance giant ACAP, on April 9.

Bonza chief executive Tim Jordan told staff on Tuesday he and 777 Partners had no knowledge of the plan to seize the planes and were considering the viability of its operations.

The airline’s board held an emergency meeting on Tuesday afternoon to consider their options but entered into voluntary administration soon after.

Some sources, close to the administrators, said the group was hoping to secure new backers, while others have written off any hope of getting the airline back off the ground.

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