The transfer of shares for Air Vanuatu Operations Limited to new government-registered shareholders under AV3 is set to be finalised by week’s end, as part of ongoing restructuring.

By the end of this week, the transfer of shares for Air Vanuatu Operations Limited will be completed, transitioning to new shareholders registered under the government-owned entity AV3.

AV3 is a separate business registered by the government to streamline Air Vanuatu’s operations following its recent liquidation.

Deputy Prime Minister and Minister of Foreign Affairs, Hon. Matai Seremaiah, clarified in an interview that while Air Vanuatu remains unchanged in its operations, only its shareholders have been restructured. “Air Vanuatu Operations Limited is a private company for the airline, as we all know. Previously, its shareholders were the Prime Minister, the Ministers of Finance, Trades, and Utilities. Since the company went into liquidation, AV3, another government registered business, submitted a proposal for ownership.

The court has ordered the transfer of shares from the current shareholders to those of AV3. Air Vanuatu itself remains, but the shareholders representing it have changed as ordered by the court. We signed off on these documents three weeks ago, and a shareholders’ meeting was held to finalize this process.”

The transfer of shares is being completed by the Vanuatu Financial Services Commission (VFSC), which is expected to finalise the registration of new shareholders for Air Vanuatu Operations Limited under AV3 this week.

Hon. Seremaiah addressed some confusion regarding AV3’s designation as a private company under VFSC, emphasising that the government retains full ownership of AV3 despite this label.