"One of the worlds oldest airlines that is, currently in private hands and whose future has been the subject of much speculation looks set to return home. (See News 04 December)
Aerolineas Argentinas was purchased from Argentina by the Spanish group Marsans who, unfortunately were unable to operate the airline profitably. There were many too-ings and fro-ings between the Argentine govt and Marsans culminating with the former declaring they would seize the worthless airline back and re-nationalize it saying Aerolineas and subsidiary Austral Airlines were together a staggering $890 MILLION in debt. Naturally Marsans rejected this suggestion claiming the two airlines ware valued at $250-450 million-on the positive side!
Negotiations have continues and it looks like an end to the saga is in sight-at last. Various Spanish and Latin American sources have indicated an agreement between the two sides has been reached.
The sticking point relating to the value of the airlines and the seizure by the Argentinian govt has been overcome with the aforementioned government agreeing to take over the purchase of appx 40 aircraft. This purchase was subject to a previous contract between aircraft manufacturer Airbus and Marsans and if the proposals are accepted the move is reported to release $190 million for the Spanish company.
It is expected that the code-share agreement Aerolineas and Air Comet (another Marsans owned airline) would be maintained as part of the deal. The arrangement will allow Air Comet to operate from Spain to Argentina and from Argentina to other Latin countries." Next
Aerolineas Argentinas was purchased from Argentina by the Spanish group Marsans who, unfortunately were unable to operate the airline profitably. There were many too-ings and fro-ings between the Argentine govt and Marsans culminating with the former declaring they would seize the worthless airline back and re-nationalize it saying Aerolineas and subsidiary Austral Airlines were together a staggering $890 MILLION in debt. Naturally Marsans rejected this suggestion claiming the two airlines ware valued at $250-450 million-on the positive side!
Negotiations have continues and it looks like an end to the saga is in sight-at last. Various Spanish and Latin American sources have indicated an agreement between the two sides has been reached.
The sticking point relating to the value of the airlines and the seizure by the Argentinian govt has been overcome with the aforementioned government agreeing to take over the purchase of appx 40 aircraft. This purchase was subject to a previous contract between aircraft manufacturer Airbus and Marsans and if the proposals are accepted the move is reported to release $190 million for the Spanish company.
It is expected that the code-share agreement Aerolineas and Air Comet (another Marsans owned airline) would be maintained as part of the deal. The arrangement will allow Air Comet to operate from Spain to Argentina and from Argentina to other Latin countries." Next
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