A court has heard collapsed airline Bonza has more than 57,000 customer creditors, most of whom have forward bookings with the company.
A barrister acting for the airline's administrators told the Federal Court on Tuesday that the company also had 323 employee creditors and 120 trade creditors.
The court later issued orders allowing a first meeting of creditors to proceed on Friday morning.
Barrister James Hutton told the court that the administrators, Hall Chadwick, had estimated 20,000 or more people could attend the virtual meeting.
Mr Hutton said the administrators were treating customers with forward flight bookings as "contingent creditors" given it was still uncertain if the flights would be cancelled.
Mr Hutton confirmed creditors of the company had seized planes leased to Bonza and the lessor had "expressed their clear intention" to remove the aircraft from Australia.
Justice Elizabeth Cheeseman said the timing of the first creditors' meeting would ideally balance the need to get the administration process "up and running" with giving creditors the best opportunity to attend.
Bonza Aviation Pty Ltd went into voluntary administration on April 30 after its US parent company, 777 Partners, lost control of its leased planes.
Mr Hutton said the lessor had "rightly enforced" the lease termination 90 minutes before Bonza went into administration.
The administrators have cancelled all flights, including those from Newcastle to Queensland, since Bonza went into administration.
The administrators plan to prepare a report on Bonza's financial position and present it to a second meeting of creditors in four to six weeks.
They have asked creditors to submit proof of their debts by midnight on Wednesday if they want to vote at Friday's meeting.
Hall Chadwick said last week that it had been in talks with "key industry participants within Australia and overseas with regard to the current status and a way forward for the company and its operations".
"The largest consideration for these parties is the current status of the aircraft, which currently remain grounded," Hall Chadwick said in a public statement.
"During this time, whilst the aircraft remain grounded and there is insufficient cash flow and funding, the administrators are unable to recommence full operations.
"The administrators also have no alternative but to stand down the majority of the employees of the company, pending the outcome of these above ongoing discussions.
"The administrators appreciate this is not the news that the employees, customers and other key stakeholders would like to hear, however, there is no alternative course of action available."
Hall Chadwick said it could not reveal Bonza's financial position because "this information remains commercially sensitive and subject to ongoing investigation".
The administrators also confirmed that they could not process nor issue refunds to customers "at this time".
