Photo © Simon Haddrill
Today, Sept 15, is the day that Aerolineas Argentinas has their board meeting after their last injection of 206 million dollars by the spanish goverment.
With the recent route expansion and the re-opening of many routes, it would appear that Aerolineas Argentinas is financially secure and stable. However, still loosing 20 million a month with no end in sight, what steps are being taken to keep it alive?
Several months ago, the reorganization plan called for the layoffs of 20 % of the workforce and the discontinuation of most of the international routes. Quite puzzling since the exact same opposite has occured with the re-launching of pre-Iberia routes.
Aerolineas Argentinas has started running advertisements here in Los Angeles in the newspaper for their new thrice weekly flights to Lima and Buenos Aires, with connection to Sao Paulo, Rio, Santiago and Montevideo. It appears that their expectations of the route are doing so well, because I just read that they now plan to switch it into a daily flight. This reminds me of Pan Am's situation back in 1991, when they were running commercials and sponsoring a latin american street fair in Los Angeles 2 days before they shut down.
Any breaking news about their stockholder meeting?