AeroContinente Chile is again airborne after two appeals courts in Chile agreed that its grounding and the arrest of four senior officers were unjustified.
Investigation of money-laundering charges continues, but the rebuke by their own judges is a setback for Chilean prosecutors and a vindication for Peru, which harbours old grudges against its wealthier and more assertive neighbour. The Chilean carrier is owned by Lima-based AeroContinente.
Lupe Zevallos, president of the parent company, claims the shutdown cost AeroContinente Chile $1 million a day. She hints that it may seek an estimated $40 million damages from the Chilean Government.
LanChile says it welcomes its rival's return. During AeroContinente's grounding, Chile's anti-monopolies board barred LanChile from completing its own domestic restructuring.
Now that LanChile has a rival once more, it hopes Santiago will approve integration of all its domestic operations into a new airline called LanExpress.
AeroContinente controlled 11% of the domestic market before its grounding. It promises to resume its strongly competitive low fares, despite warnings from the anti-monopolies board over predatory pricing.
Source: Airline Business
