South Pacific airline Air Vanuatu collapses into liquidation.

Nauru Airlines is reportedly in a bidding war for Air Vanuatu, a South Pacific airline that recently collapsed into liquidation due to a significant debt of at least $65M. Air Vanuatu owes creditors over $110M and has an overall deficit of $65.9M. Only two of its six aircraft are flight-ready. The airline's financial troubles stem from the COVID-19 pandemic, natural disasters, and global aviation parts shortages.

May 16, 2024
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