Air Australia, formerly known as Strategic Airlines, has run out of money and all flights were  grounded today, leaving hundreds of passengers stranded in Phuket and Honolulu. It is now in administration with KordaMentha, which said in a statement: “It currently appears that there are no funds available to meet operational expenses so flights will be suspended immediately. It appears unlikely there will be any flights in the short to medium term.” See statement.

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