Bonza went under because Qantas/Virgin maintain a lock on airport "slots" in the primary markets of Melbourne and Sydney.
That's why every day, there are flights from both airlines that are "cancelled" and everyone moved to the next flight. Qantas got so outrageous that they were selling tickets for "flights" that they knew were never going to fly.
Australia's airport and airline "markets" are monopolies (airports) combined with oligarchies (Qantas/Virgin).
Like most consumer industries in Australia, there is a natural oligarchy or regulated market size, thing supermarkets (Coles/Woolworths + Aldi/IGA), banks (the "big 4"), Fuel, Hotels/Pubs, etc.
That's why every day, there are flights from both airlines that are "cancelled" and everyone moved to the next flight. Qantas got so outrageous that they were selling tickets for "flights" that they knew were never going to fly.
Australia's airport and airline "markets" are monopolies (airports) combined with oligarchies (Qantas/Virgin).
Like most consumer industries in Australia, there is a natural oligarchy or regulated market size, thing supermarkets (Coles/Woolworths + Aldi/IGA), banks (the "big 4"), Fuel, Hotels/Pubs, etc.