The fourth largest airline in Brazil is in intensive care. Tenants take back 18 of Avianca Brazil's remaining 25 aircraft. Time runs out.
56 aircraft counted fleet Avianca Brazil late last year. Since then, she has shrunk like a chocolate egg in the spring sunshine. On Monday, April 22, Brazil's single airline began adding another 18 jet aircraft to the leasing companies Gecas (eight pilots), Aviation Capital Group (six) and Vermillion Aviation (four). This left her with only seven aircraft.
Avianca Brasil was filed for bankruptcy protection in December. The leasing companies, however, fought the aircraft's return to court, since the lease payments were not paid. With the hull fleet, she can only perform a minimum program. The regulator Anac has ordered Avianca Brasil to cancel 1
Auction in progress
There is currently an auction for the purchase of large parts of Avianca Brasil. Interested parties can be formed for seven so-called Unidades Produtivas Isoladas. These are special legal entities where the buyer has no obligations with respect to additional debts if the seller, like Avianca, is covered by creditor protection. Six of them include start-up and landing rights and one of the frequent flyer programs. Gol and Latam have apparently invited, Azul has withdrawn.
Results are expected to be available by May 7 at the latest. Avianca Brasil runs the time.