Koala Airlines faces winding-up application

[red750]

Melbourne based upcoming startup carrier Koala Airlines faces winding-up application even before doing a flight. A creditor, Wealth Creation Pty Ltd has applied for the winding up of Koala Airlines Pty Ltd. 

As per the Australian Securities and Investments Commission, an application for the winding up of Koala Airlines Pty Ltd was commenced by the plaintiff Wealth Creation Pty Ltd ACN 007 200 179 on 20/12/2024, and a hearing will be done on 10:30 AM, 22 January 2025. 

Just two months after Bonza’s closure was confirmed, a new Australian Airline-Koala Airlines, had emerged as a fresh rival to the current duopoly of Qantas and Virgin Australia. 

 

 

[facthunter]

"Your" article makes it sound like a Conspiracy. Would you mind saying where it's from?  Nev

[onetrack]

It's not a conspiracy, the company Wealth Creation, obviously hasn't been paid for a debt owing and due - so, they've used a standard corporate technique by applying for the winding up of the company that owes them money, just to try and determine their true financial position. Many a time, the winding-up application is dropped when the creditor is paid.

 

Koala Airlines faces winding-up application – Australian Aviation

AUSTRALIANAVIATION.COM.AU

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Wealth Creation Pty Ltd has lodged the application against Koala, which gained some press last year as a potential new competitor in domestic aviation following the collapse of Bonza. A hearing in the Supreme...

 

[facthunter]

I just would have liked to know where the article was sourced from. Nev

[onetrack]

The article came from a post on "X" by a user named FL360aero. They have a large Aviation news website at www.fl360aero.com.

 

 

 

[sfGnome]

3 hours ago, onetrack said:

the company Wealth Creation, obviously hasn't been paid for a debt owing and due - so, they've used a standard corporate technique by applying for the winding up of the company that owes them money,

Yep. Years ago, while working for a reasonably large company, I hired a contractor to do some work which he didn’t do. When we refused to pay his invoice, he issued a winding up notice on the company. Needless to say, he didn’t get very far… 99% of winding up notices are meaningless. 🙄

Edited 15 hours ago by sfGnome

[facthunter]

There's nothing NEW in the Article  The bit about the Duopoly is not relevant to the winding up at all.. Nev