LatinPlane
Posts: 2480
Joined: Mon Dec 27, 1999 11:05 am

Aerolineas Argentinas Saved From Bankrupcy

Wed Jul 26, 2000 1:32 am



According to some early news by eco (A mexican spanish news channel) The spanish gov. has decided to inject fresh new capital of $208 million dollars into debt ridden Aerolineas Argentinas.

This will allow Aerolineas Argentinas to continue operating and avoid closure of operations until september, when the board of directors will meet again to present their plan of re-structurisation of the airline.

It seems like the Spanish gov. does not want to have their hands full of blood like they did with the VIASA case back in 1997. However, if Aerolineas continues to operate like it is doing, it will loose another $150 million dollars this year which will whipe out any cash it has left and will need another investment soon.



Click for large version
Click here for full size photo!

Photo © Juan Pablo Marini

Pan Am - The World's Most Experienced Airline.
 
Guest

RE: Aerolineas Argentinas Saved From Bankrupcy

Wed Jul 26, 2000 2:21 am

I feel sorry for the employees.
 
Guest

RE: Confirmed?

Wed Jul 26, 2000 2:23 am

can you confirm this?
 
bacardi182
Posts: 1029
Joined: Tue Jan 04, 2000 2:47 am

RE: Aerolineas Argentinas Saved From Bankrupcy

Wed Jul 26, 2000 2:36 am

i wish the horrible airline would just die so that LAPA can take over and try to do a good job.....
 
Guest

RE: Aerolineas Argentinas Saved From Bankrupcy

Wed Jul 26, 2000 2:45 am

It's true and can be confirmed. You can read about it in La Nacion - online or Clarin. Like Latinplane said Spain doesn't want the Viasa fiasco revisited.

I for one am glad that they are working on saving AR. With unemployment being as high as it is now AR's closing would be even more devastating to our economy.

So until September AR will be flying. Now as far as the "if Aerolineas continues to operate like it is doing" should more like if Iberia continues to operate Aerolineas like it is doing....yes they will continue to loose $$. So I hope things change.

Just got to wait and see.
 
LatinPlane
Posts: 2480
Joined: Mon Dec 27, 1999 11:05 am

Latest News.

Wed Jul 26, 2000 2:47 pm

I'm pretty sure that you have all confirmed my early news about the Aerolineas Argentinas situation.

Something interesting to note is that on CNN en Español -Economia y finansas, reported that Aerolineas Argentinas is loosing an estimated 20 million dollars a month. The 208 million dollars injected to Aerolineas will only last them till September if they don't reach the accords with the employees of salary cuts, lay offs of 20%, fleet rationalisation, and route rationalisation.

The most interesting thing I found was that an Argentinian analyst predicts that Aerolineas Argentinas will not make it no matter what, and the reason is that American Airlines is not participating and has lost total faith in Aerolineas. It seems like American Airlines will not coopearate and sees no future in Aerolineas Argentinas. Frankly, I don't know if Iberia will be able to turn Aerolineas anytime soon. The Argentinian gov. does not like the idea of layoffs, the employees will not accept them and everything else is working totally against them. What to do?


Best reagards,

Apolo Diaz



Pan Am - The World's Most Experienced Airline.

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos