dcajet
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Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri May 31, 2019 11:08 pm

The mystery surrounding Avianca Argentina continues:

* Reports of ATR folks in Buenos Aires working with Avianca Argentina to repossess the fleet during the first week of June

* The pilots' union (APLA) has authorized the A0 pilots to refuse ferrying the planes back to France

* The airline owes months of salaries & benefits to its employees

* May was a terrible month for Avianca Argentina in terms of passengers carried. Several flights on the only two routes that it maintains (Aeroparque - Santa Fe and Aeroparque - Mar del Plata) had to be canceled due to low demand. It is the vicious circle when there are rumors of closure: passengers stop buying tickets for fear of being stranded, revenues decrease, boosting economic problems, ending everything as a self-fulfilling prophecy.

* Efromovich was scheduled to be in Buenos Aires this past week but he was a no show. He may have bigger fish to fry after being ousted from the board of Avianca Holdings by United Continental Holdings.

https://aviacionline.com/2019/05/contin ... e-los-atr/
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OzarkD9S
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri May 31, 2019 11:15 pm

Is UA stepping in? I hear they have some sort of control of AV's debt.
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pipeafcr
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri May 31, 2019 11:53 pm

AV Holdings has been able to maintain its status quo but Synergy’s worsening situation is worrisome. For the sake of mainline AV, Synergy should sell their majority stake in AVH or divest and pay off their debts in Brazil and Argentina.
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adamblang
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 12:00 am

OzarkD9S wrote:
Is UA stepping in? I hear they have some sort of control of AV's debt.

Avianca Argentina is a licensee of the Avianca name (or something like that) rather than a part of the Avianca that United's involved in.
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 12:02 am

And to complete the picture, Synergy still owes the Macri family most of what they "paid" for MacAir, which was the AOC used to found Avian Lineas Aereas AKA Avianca Argentina.
"Unattended children will be given espresso and a free kitten"
 
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RyanairGuru
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 12:04 am

OzarkD9S wrote:
Is UA stepping in? I hear they have some sort of control of AV's debt.


Avianca Holdings is a completely different company to the Brazil and Argentina operations. United has nothing to do with 0A and O6.

There is a lot of misconception around that "Avianca" is failing, but in reality the core Avianca Holdings is doing well enough and will survive whereas Synergy is in a tailspin.
Worked Hard, Flew Right
 
intelijet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 12:45 am

OzarkD9S wrote:
Is UA stepping in? I hear they have some sort of control of AV's debt.


UA has nothing to do with Avianca Argentina, they only use Avianca's Brand.

There are "3" Aviancas that are somehow separated companys, they are related only because Efromovich has some stake on them through Synergy.

1. Avianca Holdings (AVH) which is the one that is in the deal with UA, it controls the operatrion in Colombia, Ecuador, Peru and Central America, Synergy owns their stake trough BRW.
2. Avianca Brazil, which is Ocean Air, only using the brand, not part of AVH, but owned by Synergy.
3. Avianca Argentina, which is Avian (ex Mac Air).
 
dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 1:09 am

intelijet wrote:
OzarkD9S wrote:
Is UA stepping in? I hear they have some sort of control of AV's debt.


UA has nothing to do with Avianca Argentina, they only use Avianca's Brand.

There are "3" Aviancas that are somehow separated companys, they are related only because Efromovich has some stake on them through Synergy.

1. Avianca Holdings (AVH) which is the one that is in the deal with UA, it controls the operatrion in Colombia, Ecuador, Peru and Central America, Synergy owns their stake trough BRW.
2. Avianca Brazil, which is Ocean Air, only using the brand, not part of AVH, but owned by Synergy.
3. Avianca Argentina, which is Avian (ex Mac Air).


And lets not forget Aeromar, where Synergy ran out of money before they could switch the brand to Avianca Mexico.
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Sat Jun 01, 2019 10:17 pm

Avianca Argentina has removed all availability on its flights within Argentina effective 1/7/19. Game over it seems.

Image
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Wed Jun 05, 2019 11:24 pm

Amidst rumors the airline will be shutting down for good on Friday, Avianca Argentina's website has been taken down. (http://www.avianca.com.ar).
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Thu Jun 06, 2019 4:42 pm

Next Monday, (10/6) appears to be a key date for the future of both Avianca Brazil & Argentina:

http://www.aviacionnews.com/blog/2019/0 ... argentina/
"Unattended children will be given espresso and a free kitten"
 
MedFlyerArg85
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri Jun 07, 2019 1:21 am

Avianca Argentina (Avian Líneas Aéreas) will ask for a permission to Macri's government to stop flying for a 180-days period in order to restructure their business plan and see if local service continues.

Link only in spanish

https://www.lanacion.com.ar/economia/av ... nid2255489
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri Jun 07, 2019 9:26 pm

Argentina's regulator (ANAC) says Avianca has requested a 90-day period to start the process of restructuring the company with the re-engineering of the regular route plan and the company's business model. The 90-day extension may be extended for another 90 days upon expiration. During this time the airline keeps its AOC and may engage in charters, suggesting the 2 ATR-72-600 will remain in Argentina for the time being.

https://www.flightglobal.com/news/artic ... ce-458783/
"Unattended children will be given espresso and a free kitten"
 
EChid
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Mon Jun 10, 2019 10:57 am

Man, the remarketed name was not a good idea. The collapse of one Avianca has done significant harm to all of the other Aviancas based on perception alone, and it's really difficult for the average joe to understand that Avianca Brasil =/= Avianca Argentina =/= Avianca Colombia, etc.
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dcajet
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Re: Avianca/Synergy continues to unravel: the latest from Avianca Argentina

Fri Jul 19, 2019 4:08 pm

No longer flying, and with its two ATR-72-600, stored at AEP, Avian Lineas Aereas S.A. (dba Avianca Argentina) has officially declared bankruptcy in a Buenos Aires courthouse. The legal form under Argentina's bankruptcy proceedings is called "concurso de acreedores". Chances of the airline returning to the skies are negligible.

So with Avianca Brazil being auctioned off and Avianca Argentina grounded and bankrupt, it's safe to assume that Synergy's (the Efromovich Family holding) Mercosur adventures have come to a crashing halt.
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