Brindabella owed $37 million when it filed for bankruptcy

Dino D'Amore
By Dino D'Amore January 31, 2014 20:45

Brindabella owed $37 million when it filed for bankruptcy

Canberra-based Brindabella went into receivership in December owing $37.7m say its receivers, and could have been trading while technically insolvent. The grounding of the airline caused 140 employees to lose their jobs – some $2.8m was owed to staff and more than $10m owed to the Commonwealth Bank.

The majority of Brindabella’s aircraft were leased and have been returned to their owners, leaving four remaining planes and some maintenance assets.

Dino D'Amore
By Dino D'Amore January 31, 2014 20:45
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