Analytic Flying @analyticflying.com · Aug 12 3) Tim Jordan told Australian Aviation in January 2024 that Bonza was "not so far away" from breaking even & was "well on the way" to profitability in 2024. In fact losses were widening. Cumulative net loss only flatlined when they started cancelling flights in April!
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4) Bonza said failure due to undercapitalisation but Administrators blamed poor strategic management: -App only sales too limiting -Low salaries led to staff shortages -Prices too low to cover expenses -Unplanned & expensive wet leases burnt cash -Inaccurate financial modelling