One or more European investors are eyeing a stake in Air Vanuatu (NF, Port Vila) and have received briefings from the insolvent airline's management and administrators, according to the Vanuatu Daily Post newspaper. The unnamed investors are said to be keen on rebooting the airline's international operations.
Contacted by ch-aviation, a spokesperson for administrators Ernst & Young (EY) declined to comment on the matter, citing commercial sensitivities around the ongoing sale process.
Air Vanuatu suspended its flights in early May. Within days, EY confirmed that the airline was in significant financial distress and unable to "meet its financial commitments from its own resources." However, EY's Sydney-based Morgan Kelly, who is heading the administration team, also said Air Vanuatu was a strategically important business to the country and its citizens. "The outlook for the airline is positive," he said at the time.
Before flights stopped, Air Vanuatu operated to around two dozen airports within the country, in addition to Sydney Kingsford Smith, Melbourne Tullamarine, Brisbane International, Nouméa La Tontouta, and Nadi, with a fleet of one B737-800, one ATR72-600, and three DHC-6-300s, although not all of those aircraft were operating and the B737 has since been repossessed. Recently, plans have firmed up to relaunch the carrier with its surviving turboprops, initially servicing domestic routes only.
However, the publicised August 5 restart date for domestic operations looks set to pass without any relaunch. As recently as a week ago, Vanuatu politicians were briefing local news outlets on the readiness of aircraft and crews. Since then, Prime Minister Charlot Salwai has said his government is yet to receive a full report from EY but remains "committed to finding solutions to support the future of Air Vanuatu and its employees."
The EY spokesperson told ch-aviation that the administrator was still working towards the safe resumption of domestic flights.
