Economy and premium economy class is slowly filling up with suited passengers the latest forecasts from the International Air Transport Association (IATA) show a 3.5 per cent year-on-year fall in July for premium-class travel within Europe. "777 Partners purchased approximately 70 Boeing 737s to support Bonza and their airline in Canada.Of the travellers in the Ascend survey, just 61 per cent travel by either business or first class on long-haul journeys. "In fact, their (the failed airlines') financial model is in some cases really suspect and so when things got tough they just fell away, unfortunately. "That's been one of the reasons that previous low-cost airlines in Australia like Compass and Impulse and others have failed, because they didn't have the backing there," he said. Mr Thomas said 777 Partners' financial backing should give Australians confidence the airline was here for the long haul. "There is no doubt that regional Australia has always struggled in terms of the business model of Qantas, Virgin, Tiger, so what they're trying to do is to tap into these regional areas." Backer 'no fly-by-night investor'īonza's financial backer 777 Partners, is an American investment firm with shares in Canadian airline Flair, the British Basketball League and insurance, finance, entertainment and media companies. "For people in the regions, it can take almost a whole day for you to fly from a regional place to another regional location," said Prof Lohmann. "The busiest route in the country was Brisbane to Cairns."īonza's direct routes between regional locations mean many residents outside capital cities will save time avoiding metro airports for connecting flights. "It's also a very good moment for regional Australia. We've seen that in the pandemic the regions were booming in so many ways. Mr Thomas said Bonza would not run into the turbulence experienced by those companies due to its different approach. Qantas reported a total revenue loss of $16 billion in the 2020-21 financial year, Virgin Australia survived the pandemic after being sold following its collapse in April 2020 and Tigerair Australia was forced to close during the pandemic. 'No comparison' with competitorsĪustralia's aviation industry is dominated by Virgin Australia, Qantas, budget airline Jetstar and regional airline Rex.ĬOVID-19 has taken its toll on the global aviation industry, costing billions of dollars. The company will offer between two and five flights a week on each of its 25 routes. One-hour flights like Sunshine Coast to Rockhampton or Coffs Harbour would cost about $50 one way, while Melbourne to Sunshine Coast would average between $75 and $100 one way.īonza will have a secondary base at Melbourne's Tullamarine airport. Revealing the airline's plans on Tuesday, Bonza chief executive Tim Jordan said fares would be in line with Jetstar's and about half the price of full-service airlines on most routes. "Based on that particular model, airlines like Allegiant in the United States have absolutely blossomed, and on 80 per cent of the routes it flies it has no competition at all but still charges super low fares," Mr Thomas said.
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