Good morning,

Bonza has pledged to “fight on” after being placed into voluntary administration following the repossession of its fleet of five Boeing 737 MAX 8s. The corporate regulator to to consider whether the airline traded while insolvent.

Meanwhile, Australia’s biggest coal-fired power station may stay open for four more years. The NSW government is working on the safety net solution to head off the threat of blackouts hitting the state’s electricity users.

And as court papers from the corporate regulator landed at Magnis Energy Technologies, which is accused of repeatedly misleading shareholders for more than a year on the fate of its US battery factory, the ASX-listed energy and graphite company ruled off accounts showing fewer than four days’ funding remaining.

Five things to know this morning

1. The Australian sharemarket is expected to dip as US markets stay red at end of down month for Wall Street, with Amazon earnings awaited after close.
2. Failed budget airline Bonza may speak 100 per cent Ocker but its roots are in faraway Miami, where its backers are caught in a web of legal fights involving everything from an angry Russian oligarch to a pair of Persian cats with – allegedly – poor bladder control.
3. Soaring company and personal tax revenue is expected to produce a $14.5bn federal budget turnaround from the mid-year economic forecasts of last December, according to the latest Budget Monitor by Deloitte Access Economics.
4. Star Entertainment non-executive director Peter Hodgson says his “heart sank” when he realised the troubled casino group was antagonising the regulator that wanted it to accelerate safe gambling practices and other reforms. 
5. Mortgage-holders hoping for some rate relief from the Reserve Bank could get a shock next month as a rate rise is now the near-term risk, Commonwealth Bank says.