The national carrier of the Pacific Island nation of Vanuatu may be sold to a private operator, liquidator EY says, as large numbers of tourists remained stranded after Air Vanuatu cancelled flights to Australia and New Zealand.

The Vanuatu government, which owns the airline, put the carrier into voluntary liquidation on Thursday, a day after Air Vanuatu cancelled international flights, citing extended maintenance requirements for its aircraft.

"All flights have been grounded with immediate effect," a notice on the carrier's website said.

A large number of customers have been impacted and partner airlines have also suspended codeshare arrangements between Vanuatu and Australia, EY Strategy and Transactions Partner Morgan Kelly said.

EY said it was working with the airline's management to resume normal operations as soon as possible after conducting safety and maintenance checks, but it could not provide a date.

The carrier operates only four planes between the country's islands – which rely heavily on tourism – and to Australia, New Zealand and other South Pacific islands.

EY said its appointment followed a challenging period for the global aviation industry, including labour shortages, inflation affecting input costs and credit costs.

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Vanuatu has been particularly affected by disruption of tourism activity due to cyclones.

"We may end up with some kind of sale of the business to a private operator," Kelly said.

EY was assessing how to make the airline's operations sustainable, which could also involve a partnership arrangement with another airline, he added.

The outlook for the airline was positive, despite pressures on the broader industry, and Air Vanuatu is a "strategically vital national carrier", EY said.

The first meeting of creditors will be scheduled shortly, while the current management team will remain in place, it added.

Virgin Australia said it would add two flights a week in May and June between Brisbane and Vanuatu, after the Australian government asked it to increase capacity.

The airline has also applied to the International Air Services Commission to increase seat capacity to Vanuatu, with plans to add seven more services from Australia's east coast, it added.

Qantas said it was supporting codeshare customers booked onto Air Vanuatu flights.

Fiji Airways offered seats on its flights to stranded Fijian nationals holding Air Vanuatu tickets.