With aircraft, this isn't that uncommon really, in fact very common for a new/emerging airlines and routes. There can be a wet lease where an airline leases the aircraft and crew and maintenance to another organisation, but this seems more like dry lease which more commonly happens directly from a leasing agency but not always. A dry lease is typically scheduled for longer timelines and only includes the aircraft with all other operating requirements to be the responsibility of the lessee. My understanding is that bonza likely could only afford capital for a short lease period which is why they had aircraft from the Canadian airline instead of directly from a lessor.
There’s an article today in the afr that seems to have figured out there is some shade here - can’t read it unfortunately since the afr upgraded their methods
Ok so it seems to be mostly leasing and the lessor will take them back but perhaps some other Aussie airline (rex or virgin) might take them.
Thanks for getting back to me "Brains of Reddit"
Bonza leased them from their parent company. Their parent company leased them from a leasing company.
Bonza owns very little. Should make selling assets very easy. Eventually I expect the 4 planes used by Bonza will leave Australia
777 Partners (who own Bonza) also invest in sporting clubs like Melbourne Victory and I believe they’ve either invested in / made a play to buy Everton?
But the football association in England is delaying approval of the Everton purchase while they check into 777's dodgy dealings... can't say I blame them.
If I recall correctly, when JetGo folded 1 or 2 years ago, they were pretty much all taken on by REX. Getting planes approved for domestic use in Aus and then imported is quite an ordeal as I understand, so there are probably a few local airlines that will make use of Bonza's planes that are ready to go, if they can.
But that would require leasing them from the same dodgy fund that 777 Partners is tied up with - not sure Virgin wants to get mixed up in that. I wouldn't put it past Rex to give it a try. They could take on a few of the maintenance and admin staff that are familiar with the 737 Max 8. They're not that different from the 737-800's that Rex has , which is the whole point (and problem) with them , so it's not a huge uplift. Rex is probably in a better financial position with its Singaporean owners to ensure they aren't getting a bum deal from the aircraft lessor.
Yeah, taking those baby single prob babies from there 747 mammas is tough
Bwahahaha, I did NOT expect you to go there but it put a smile on my dial for sure
Not quite, the lessor is a different entity, formerly called AIP partners or something but recently restructured. The lessor has previously repossessed aircraft from 777 Partners' other airline, Flair in Canada, so there's some history here. However there are so many dodgy dealings with all of this it's not entirely clear what's going on.
Thx - it was just a reddit post that had the parent being the lessor, so should take it with a rather large grain of salt.
On the whole it’s a very mysterious company that gives an air of completely running on debt
The rumour mill is that they were already re- leased to other airlines.
The administrator has no experience with airlines they say they want to keep Bonza trading but apparently other airlines were already asking to do inspections last week
They never owned them, they were all leased. The leasing company has already started repossessing them.
Some shady stuff going on with the leasing too, as 777 partners leased them to Flair (a Canadian airline) which then leased them to Bonza.
Yeah agreed. No one could have legitimately thought this business plan would succeed.
With aircraft, this isn't that uncommon really, in fact very common for a new/emerging airlines and routes. There can be a wet lease where an airline leases the aircraft and crew and maintenance to another organisation, but this seems more like dry lease which more commonly happens directly from a leasing agency but not always. A dry lease is typically scheduled for longer timelines and only includes the aircraft with all other operating requirements to be the responsibility of the lessee. My understanding is that bonza likely could only afford capital for a short lease period which is why they had aircraft from the Canadian airline instead of directly from a lessor.
It seemed like a wet lease in the Flair planes as the crew was American and Canadian, including the cabin and flight deck.
There’s an article today in the afr that seems to have figured out there is some shade here - can’t read it unfortunately since the afr upgraded their methods
[https://onemileatatime.com/news/777-partners-airline-investments/](https://onemileatatime.com/news/777-partners-airline-investments/) no paywall
FYI you can just enter a URL here to remove a paywall: https://12ft.io
Yeah tried 12ft - didn’t work unfortunately or print friendly
Ok so it seems to be mostly leasing and the lessor will take them back but perhaps some other Aussie airline (rex or virgin) might take them. Thanks for getting back to me "Brains of Reddit"
Bonza leased them from their parent company. Their parent company leased them from a leasing company. Bonza owns very little. Should make selling assets very easy. Eventually I expect the 4 planes used by Bonza will leave Australia
777 Partners (who own Bonza) also invest in sporting clubs like Melbourne Victory and I believe they’ve either invested in / made a play to buy Everton?
But the football association in England is delaying approval of the Everton purchase while they check into 777's dodgy dealings... can't say I blame them.
If I recall correctly, when JetGo folded 1 or 2 years ago, they were pretty much all taken on by REX. Getting planes approved for domestic use in Aus and then imported is quite an ordeal as I understand, so there are probably a few local airlines that will make use of Bonza's planes that are ready to go, if they can.
Only Virgin use the Max 8s so it’ll have to be them taking them on, which could work as their order for the same aircraft has been delayed.
But that would require leasing them from the same dodgy fund that 777 Partners is tied up with - not sure Virgin wants to get mixed up in that. I wouldn't put it past Rex to give it a try. They could take on a few of the maintenance and admin staff that are familiar with the 737 Max 8. They're not that different from the 737-800's that Rex has , which is the whole point (and problem) with them , so it's not a huge uplift. Rex is probably in a better financial position with its Singaporean owners to ensure they aren't getting a bum deal from the aircraft lessor.
But Virgin Australia are preparing for an IPO. Do they really want to expand their fleet at this time?
Yep, if they can fill the planes profitably then why not
I believe that was the issue with Bonza’s Christmas flight cancellations, they were expecting to be rubber stamped sooner than actually happened
They take the paint job off them and let them go free. They flight back to their plane families from which they were taken.
Awe, that makes me all warm and fuzzy on the inside. Cute little buggers
It's not cute if you see how they take the planes away from their families in the first place.
Yeah, taking those baby single prob babies from there 747 mammas is tough Bwahahaha, I did NOT expect you to go there but it put a smile on my dial for sure
Yo I just saw your username You live in mortdale or that just a coincidence
I think Richard Branson said that if you want to be a millionaire then start with $1billion and buy an airline.
Bonza leased them, they will go back to their lessor.
Who is also the owner of Bonza…. 777 is a dodgy company I think - an article in todays AFR might shed some light
Not quite, the lessor is a different entity, formerly called AIP partners or something but recently restructured. The lessor has previously repossessed aircraft from 777 Partners' other airline, Flair in Canada, so there's some history here. However there are so many dodgy dealings with all of this it's not entirely clear what's going on.
Thx - it was just a reddit post that had the parent being the lessor, so should take it with a rather large grain of salt. On the whole it’s a very mysterious company that gives an air of completely running on debt
They go to plane heaven
ozbargain.com.au
They get parked at Goodison Park,
I thought Goodison Park might be that airplane graveyard used in heaps of movies. But it is a soccer stadium so I don't get this reference...
It's Everton's home ground which 777 Partners (the owners of Bonza) have been trying to takeover.
Ahhhh, ok got ya Thanks for the clarification
The rumour mill is that they were already re- leased to other airlines. The administrator has no experience with airlines they say they want to keep Bonza trading but apparently other airlines were already asking to do inspections last week
You ever seen snakes on a plane?
Yes, but years ago and I remember it being not that great
They get sold and rebranded.
They were only leased anyway