Bonza is placed into voluntary administration as flights are canceled and planes recovered

Budget airline Bonza has fallen into voluntary administration as its planes are seized and flights cancelled.

Travelers were stranded at airports across Australia on Tuesday morning as the airline halted flights for urgent talks about the airline’s viability.

It is understood that accountants and business advisers Hall Chadwick will be appointed administrators.

Bonza CEO Tim Jordan said in a statement Tuesday that he apologized to affected customers and insisted that the suspension of his services was temporary.

More to follow.