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Vanuatu’s government saves flag carrier from permanent shut down
October 4th 2024
Air Vanuatu is exiting voluntary liquidation and is returning to the control of the Vanuatu government, Australian Aviation reports. Read More » In a Deed of Compromise approved by the country’s Supreme Court, all shares in Air Vanuatu will be handed to a government-owned company, AV3, with the carrier to be operated by its present management team. The airline’s liquidator, Ernst & Young Australia, said non-binding bids for the carrier had been received. “We are very pleased the Supreme Court of Vanuatu ratified the Deed of Compromise. Its implementation maximizes returns to creditors and presents an opportunity for Air Vanuatu to continue, saving jobs and providing vital aviation services for Vanuatu,” liquidator Morgan Kelly said.
