In a report to creditors, liquidators said it had “a significant level of debt”, employing “a high number of staff for an operation of [its] size and nature”
Air Vanuatu administrators say the airline was “clearly not in a position to meet its financial commitments” well before it collapsed earlier this month, and is more than $99 million short of being able to pay back its customers, staff and lenders in full.
Air Vanuatu flew to Brisbane, Sydney, Melbourne and Auckland, as well as Nadi in Fiji and Nouméa in New Caledonia, and operated a small domestic fleet.
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