Quote: Marsans Seeks Deal Over Airbus Pact In Argentina Expropriation
BUENOS AIRES -(Dow Jones)- Three weeks after the Argentine Congress voted to expropriate flagship airline Aerolineas Argentinas from Spain's Grupo Marsans SA, the travel company is quietly negotiating with the government to get at least something out of the situation.
Marsans is urging the government to take over part of a contract the company has to buy scores of Airbus airplanes, a Marsans official said Wednesday.
The contract is to buy around 70 planes from theunit of European Aeronautic Defence & Space Co. (5730.FR), many of which were originally meant to bolster Aerolineas's fleet.
"It's logical that the government would be interested in getting those planes," the official said. "I know the government and Marsans are willing to negotiate until the last minute. Everything is on the table."
An official at Argentina's Transportation Secretariat, which has long been involved in the expropriation process, declined to comment on the matter.
The Marsans official said the company wants "an honorable way out" of the situation, which has potentially negative financial implications for Marsans, and possible diplomatic and economic consequences for Argentina.
"When all is said and done, more will be said than done".
Scouseflyer From United Kingdom, joined Apr 2006, 3267 posts, RR: 10 Reply 1, posted (4 years 5 months 1 week 6 days 7 hours ago) and read 1764 times:
The saga of AR and Gm rumbles on!
As far as I understand, this contract hasn't actually been signed yet (despite the press release in November) if that's the case then there's not much for them to negotiate over!
ArabAirX From , joined Dec 1969, posts, RR: Reply 2, posted (4 years 5 months 1 week 5 days 19 hours ago) and read 1558 times:
With the amount of corruption prevalent in L.America, I would not be surprised if this order is terminated.
Marsans is effectively "dumping" the order responsibility for AR with the Argentine Government, which as we all know is not exactly awash with taxpayer money to fund such a purchase.
Lumberton From United States of America, joined Jul 2005, 4708 posts, RR: 21 Reply 3, posted (4 years 5 months 1 week 5 days 19 hours ago) and read 1521 times:
Welcome to a.net, ArabAirX! Perhaps an opportunity for a little government-to-government wrangling?
"When all is said and done, more will be said than done".
ArabAirX From , joined Dec 1969, posts, RR: Reply 4, posted (4 years 5 months 1 week 5 days 19 hours ago) and read 1502 times:
Thanks for the welcome Lumberton
I suspect with all this credit crunch baloney, Marsans would rather save its own funds than waste it on capital outlays for a country that quite frankly cannot support itself.
Either way, this deal has all the signs of a prominent collapse
Scouseflyer From United Kingdom, joined Apr 2006, 3267 posts, RR: 10 Reply 5, posted (4 years 5 months 1 week 5 days 18 hours ago) and read 1436 times:
Quoting ArabAirX (Reply 4): I suspect with all this credit crunch baloney, Marsans would rather save its own funds than waste it on capital outlays for a country that quite frankly cannot support itself.
What I find very strange about all of this is that they don't appear to of actually signed the firm order anyway and unless they can't get as good terms for a reduced order for Air Comet only, I don't see why they don't just firm a smaller order?
Alianza From United States of America, joined Apr 2008, 230 posts, RR: 0 Reply 6, posted (4 years 5 months 1 week 5 days 14 hours ago) and read 1240 times:
There must have been some agreement or MOU or LOI or Marsans would not be trying to dispute this with the Argentinian gov't. And if there was, agreed or made on behalf of AR, they would have a valid issue to consider with Argentina as the government was a part owner at the time they were dealing for a/c's. Of course, if Marsans was dealing on their own behalf, without specifying AR, then it is their responsibility, which might have happened given their history of underhanded practices. They might have conveniently planned to use or divert new a/c's for their own use at Comet, etc.
But what diplomatic consequences is he referring to, that would be so harmful to Argentina ?
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