Latin America – Page 29
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NewsCourt upholds decision to suspend Avianca state loan
A Colombian court has upheld its injunction barring the national government from participating in Avianca’s debtor-in-possession (DIP) financing, but the airline is confident its latest proposal will still be approved by the US bankruptcy court.
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News
Light twin-turboprop ATL-100 to be produced at Portuguese facility
Portugal’s government expects a joint turboprop aircraft programme with Brazilian industry will create 1,200 positions at a new integrated production facility in Evora. The twin-engined ATL-100 is being created through a joint-venture between Brazilian firm Desaer and the Portuguese engineering and product development centre CEIIA. It derives its ...
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News
Caribbean Airlines to reduce salaries, lay off staff
Caribbean Airlines is implementing cost cutting measures including salary reductions, temporary layoffs and reducing discretionary spending in order to manage through the coronavirus crisis.
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News
FAA and ANAC certificate Embraer’s Synthetic Vision Guidance System
Brazilian airframer Embraer says its Synthetic Vision Guidance System (SVGS) has gained approval for use in its Phaeton 500 and Praetor 600 aircraft in two important jurisdictions.
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News
Azul converting four E195s to support freight division
Azul has converted one of its Embraer 195s into a freighter to support its cargo division, and plans to adapt another three in response to “record demand”.
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News
Saab F-39E Gripen arrives in Brazil for flight testing
The Brazilian variant of the Gripen E/F will be used for a flight-testing campaign.
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In depth
Where the airline industry was when the music stopped
Another year of strong profit and traffic growth in 2019 for leading carriers illustrates the highs the industry had reached before the coronavirus pandemic, but offered no warning of the crisis to come that has pushed airlines to the brink.
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News
Volaris shareholders vote in favour of capital increase
Mexican low-cost carrier Volaris has won shareholder approval to raise up to Ps3.5 billion ($164 million) in capital. The airline says it is “evaluating different financing alternatives” after shareholders approved the plan at an extraordinary general meeting on 18 September. Source: Airbus Options ...
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News
New York bankruptcy court green-lights LATAM’s revised financing proposal
LATAM Airlines’ revised debtor-in-possession financing proposal has been approved by a bankruptcy court in New York,
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News
Avianca appeals injunction against $370m loan
Colombia’s Avianca, which filed for bankruptcy protection in a New York court in May, has appealed an injunction preventing disbursement of a major loan needed to keep the company afloat.
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Announcements
FlightGlobal launches Decade of Airline Excellence Awards
FlightGlobal is delighted to announce the launch of the Decade of Airline Excellence Awards, which Airline Business will deliver later this year with our partner, Korn Ferry. Amid this year’s unprecedented disruption, we have decided to take a break from the Airline Strategy Awards – which will return ...
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News
LATAM request for DIP financing rejected by bankruptcy court
LATAM Airlines’ proposal to secure $2.2 billion in debtor-in-possession financing has been rejected by a bankruptcy court in New York. The Chile-based airline group, which filed for Chapter 11 bankruptcy protection in the USA on 26 May, says in a Securities and Exchange Commission filing that a judge at ...
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News
LATAM names former JetBlue executive as new commercial chief
Chile’s LATAM Airlines has appointed Marty St. George to be its new chief commercial officer.
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News
Volaris seeks shareholder approval for $162 million capital raise
Volaris is seeking to raise up to 3.5 billion Mexican pesos ($162 million) through a rights offering, share sale or debt issuance to strengthen its balance sheet and enable it to take advantage of market opportunities.
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In depth
Airline coronavirus recovery tracker: September 2020 update
Our regular examination of the latest global data for several key airline market indicators, including traffic and capacity in passenger and cargo markets, airport passenger throughput, in-service and stored fleets, jet fuel costs, and share price trends for the world’s largest groups.
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News
Embraer cuts Brazil workforce by 4.5%
Brazilian aircraft manufacturer Embraer is reducing its workforce in the Latin American country by 4.5%, or about 900 employees.
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News
Air cargo traffic stabilises in July as capacity crunch continues
Air cargo traffic was stable in July but demand continues to be constrained by the lack of bellyhold capacity, according to the latest monthly report from IATA. Figures from the airline association show that demand in cargo tonne kilometre (CTK) terms fell by 13.5% year on year in July. ...
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News
Colombian investigators probe DC-3 landing excursion
Colombian investigators are probing a runway excursion during landing involving a Douglas DC-3 operated by the local carrier Aerolineas Andinas Aliansa. The aircraft (HK-2006) had been arriving at San Jose del Guaviare airport, which has a single runway around 1,400m in length, having flown from Pacua some 320km to ...
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News
Argentina to use pension funds to restart development of IA-100 ‘Malvina’
Argentina, which defaulted on its national debt in May, has decided to dip into its military pension and retirement fund to restart the development of its new trainer aircraft, the IA-100. The country sees its pension funds a means to develop other projects in the future.
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News
IATA warns that Argentina may delay September air travel restart
Rumours are swirling that Argentina’s government might push back its plan to reopen the country to air travel on 1 September, throwing uncertainty around carriers’ plans to resume operations to the country.
