PNG Air Restructuring Recognised at Airline Economics Awards

Celebrating a Landmark Achievement in Asia–Pacific Aviation

Wolstonbury is proud to highlight a moment of industry recognition that reflects both exceptional leadership and the power of disciplined commercial strategy.

On 5 November, 2024 in Singapore, Tim Robertson and his team at PwC Australia’s  Restructuring Unit, (subsequently acquired by Teneo,) were honoured at the prestigious Airline Economics: Asia Pacific Aviation 100 Awards, winning Asia-Pacific Restructuring Airline of the Year for their work with PNG Air. This accolade celebrates a complex, high-stakes restructuring effort that has set a new benchmark across the region.

I had the privilege of working alongside Tim, contributing commercial strategy leadership with a focus on Network Planning and Revenue Management, including pricing and distribution architecture. It was a proud moment for my team and me to see these efforts recognised as part of a broader, successful transformation.

A First for Papua New Guinea

The award follows a milestone decision on 15 December 2023, when the National Court of Papua New Guinea approved PNG Air’s Creditor Scheme of Arrangement under Part XVI of the Companies Act 1997.
This scheme—the first of its kind in PNG—provided a structured pathway for the airline to reorganise its liabilities, engage constructively with stakeholders, and continue operating during a challenging financial period.

A Collaborative Effort

The restructuring was supported by a multidisciplinary advisory group, including:

• Morgan Lewis Stamford – winner of Asia Pacific Law Firm of the Year
• Leahy Lewin Lowing Sullivan Lawyers
• Grant Thornton Australia – appointed by the court to independently validate the scheme

The collective expertise of these organisations ensured a robust, transparent, and future-focused outcome for PNG Air.

Looking Ahead

At Wolstonbury, this project reflects our commitment to delivering commercially rigorous, scenario-based, and operationally grounded aviation strategy. It demonstrates the impact of combining analytical precision with practical airline experience—especially in markets where the stakes are high and solutions must be tailored to local realities.

We congratulate Tim Robertson, PwC Australia, and all involved in this transformative achievement.
It has been a privilege to contribute to a project that not only strengthens an airline but sets a precedent for the region.

Wolstonbury — Commercial Aviation Strategy, Delivered with Clarity and Purpose.

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