Opinion
Bonza’s failure is a warning for corporate Australia
The private equity-backed budget airline’s abrupt collapse shines a spotlight on the potential risks brewing in the massive, unregulated private credit market.
Karen MaleyColumnistAustralian companies that may be tempted to ditch their bankers in favour of the plentiful finance on offer from private equity firms would be well advised to take a close look at the collapse of the discount regional airline Bonza.
Bonza was owned by the Miami-based private equity firm 777 Partners, which in turn relied heavily on financing from the New York-based insurance group A-Cap.
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