Liquidators say they have received interest in the grounded airline from potential buyers.

According to the latest update, the struggling airline Air Vanuatu has received some promising offers for a potential takeover or the purchase of its assets, according to the liquidators handling the company's finances. As we all know, Air Vanuatu was forced to enter liquidation on May 9th due to a series of unfortunate flight cancellations that caused a significant loss in revenue.

The lead liquidator, Morgan Kelly from Ernst and Young, shared that they have received a considerable amount of interest from various parties who are keen to take over Air Vanuatu and revive its operations. He mentioned that they are currently assessing these offers and are determined to reach a resolution at the earliest.

Unfortunately, Kelly was unable to disclose the exact number of bids received for the airline. However, we do know that Air Vanuatu's assets are quite attractive, with international airport slots in major cities like Brisbane, Melbourne, Sydney, Auckland, New Caledonia, and Fiji. They also have a fleet of owned and leased aircraft and other assets that are up for grabs.

In a previous update, the liquidators had revealed that the airline had a debt of at least $110 million to its creditors. However, this amount is expected to increase as the financial information available is outdated. As a result of the company's financial troubles, 170 out of 441 employees were let go in late May.

It is still uncertain when Air Vanuatu will resume its operations, as the liquidators have not set a specific date for it yet. We can only hope that the ongoing discussions and evaluations lead to a positive outcome for the airline and its employees.

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