Liquidators announced that Expressions of Interest for Air Vanuatu (Operations) Limited (In Liquidation) have been received. A range of parties have expressed interest in assuming the business interests of the airline, according to liquidators. These offers would now be assessed as part of a structured sale or recapitalisation process to ensure the best outcome for creditors.
“We have received interest from a range of parties seeking to resume Air Vanuatu’s operations,” said Morgan Kelly, Partner in Strategy & Transactions at EY. “We’re reviewing these offers and will be working toward a resolution as soon as possible.”
While the Liquidator is not able to disclose number and nature of non-binding offers, the assets of the business include international airport slots in Brisbane, Melbourne, Sydney, Auckland, New Caledonia and Fiji, as well as owned and leased aircraft and other assets. The liquidators will update creditors as they are able to. A date of resumption of Air Vanuatu services is yet to be determined.
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