Triple Seven Partners – based in Miami – operated the Australian low-cost carrier, which reportedly had an Australian-based investor who was about to take over the ownership.

But when Triple Seven Partners found out – it repossessed Bonza’s aircraft.

According to the Australian Aviation magazine, Bradley Davren, CEO of AVCRO – Bonza’s outsourced maintenance company, the airline’s business model was working and there were no financial issue and no credit issues.

“They were in a position where ultimately the current owner could have just shifted that liability away from themselves and the airline would have kept moving fat, dumb and happy without issue,” he told the magazine.

“Had the outcome come to fruition, I suspect you would have seen Bonza kick into overdrive”.

Administrators will take a few more days to complete their own investigations into Bonza’s future.

Bonza ‘unlikely’ to resume flights: minister