It wasn't the news more than 300 Bonza employees wanted to hear – but after a buyer for the grounded carrier failed to materialise, administrator Hall Chadwick has sacked all staff and cancelled every future flight.

With Bonza now seeming to be running on borrowed time, is there now any hope for a miracle rescue or a silver lining for hundreds of dedicated staff members now out of a job?

Adam and Jake examine the bad news and ask what's next for Bonza, its erstwhile staff – and its administrator.

Plus, Rex embarks on a major leadership shake-up, putting a local CEO in charge for the first time – so who is the Aussie set to lead Australia's third largest airline group?