Air Vanuatu, the flag carrier of the Pacific nation which collapsed into administration in May, is set to fly again after courts approved an EY-led restructure.
On Wednesday, the court approved a plan to transfer the company’s shares to AV3 Ltd – a 100 per cent government-owned vehicle – which effectively terminated the liquidation. As such, the control of Air Vanuatu will be handed back to management.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
