Air Vanuatu filed for bankruptcy protection on Friday a day after the South Pacific state-owned carrier cancelled all international flights. Ernst & Young Australia's Morgan Kelly, Justin Walsh and Andrew Hanson were appointed liquidators in a local equivalent of a U.S. Chapter 11 bankruptcy, the firm said in a statement. Thousands of travelers have been left stranded by the cancellations.

The airline cancelled more than 20 flights to and from the Australian cities of Sydney and Brisbane, and the New Zealand city of Auckland for the rest of the week on Wednesday. The airline said it was the result of "extended maintenance requirements" on their aircraft. EY said it would conduct safety and maintenance checks before the resumption of normal operations. Kelly said the airline's existing management team would remain in place throughout the process. "Air Vanuatu is critical to the people of the Republic of Vanuatu and a strategically important business to the nation," Kelly said.