A report by the liquidators says collapsed airline Air Vanuatu owes creditors at least US$73.5 million. Its only Boeing 737 aircraft was repossessed in Melbourne, Australia.
Travelers were stranded last week when the Vanuatu government placed its national carrier into voluntary liquidation. Many tourists stranded were from New Zealand unable to fly home from Port Vila.
Currently Virgin Australia flies from Vanuatu to Brisbane, and Fiji Airlines operators to Nandi, Fiji.
Air Vanuatu’s overall deficit is US$65.9 million. It owes creditors US$73.5 million, but the real numbers may be significantly higher.
The liquidator, Ernst & Young, said that without the government’s support, Air Vanuatu would be out of business forever.
Only two of the airline’s six aircraft, including the repossessed Boeing 737, are flight-ready.
Aviation experts are currently conducting inspections on the aircraft, but there is still uncertainty regarding the timeframe for their resumption. Ernst & Young plans to make efforts to sustain the airline, contingent on obtaining sufficient funding and retaining crucial stakeholder backing while simultaneously exploring potential future alternatives.
The airline posted the following information:
Air Vanuatu
Air Vanuatu entered liquidation on 9 May 2024, and Morgan Kelly, Andrew Hanson, and Justin Walsh of EY have been appointed as Joint and Several Liquidators of the Company.
All flights have been grounded with immediate effect.
Customers
If you are due to fly with Air Vanuatu, please DO NOT TRAVEL TO THE AIRPORT unless you have arranged an alternative flight with another airline. Please note that Air Vanuatu is unfortunately not able to arrange alternative flights for passengers at this stage.
If you have a booking sold by another airline that includes travel on an Air Vanuatu flight, please contact the relevant airline or travel agent to confirm if there is any impact to your travel plans.
Customers are also advised to monitor the Civil Aviation Authority Vanuatu website for further information (https://caav.vu/).
If you require any further information or assistance, please contact the Liquidators by email at Ai********@***ey.com.
Employees
In the event that you were an employee of the Company and you require further information or assistance in relation to the Liquidation, please contact the Liquidators at Em******************@***ey.com.
Creditors and Suppliers
In the event that you were a supplier or creditor of the Company and you require further details in relation to the Liquidation, please direct your queries to the Liquidators’ office on Cr******************@***ey.com.