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Found 12 results

  1. Aeromar está en quiebra técnica: pilotos Aeromar ya adeuda más de 10 millones de pesos a los pilotos por cuestiones de prestaciones laborales, señaló Mauricio Aguilera, vocero de la Asociación Sindical Pilotos Aviadores. ROBERTO VALADEZ Ciudad de México / 14.05.2019 19:38:47 La aerolínea Aeromar se encuentra en quiebra técnica, derivado de sus deudas y debilidad financiera, informó la Asociación Sindical Pilotos Aviadores (ASPA). Mauricio Aguilera, vocero de ASPA, afirmó que ante esta situación hoy en la noche se reunirán con la Secretaría de Comunicaciones y Transportes y del Trabajo y Previsión Social para pedirles apoyo para el rescate de la empresa. Al término de la alianza de Aeroméxico en el Programa Jóvenes Construyendo el Futuro, Aguilera señaló que se encuentran muy preocupados por la situación de la aerolínea, ya que son aproximadamente mil 100 los trabajadores que se encuentran en peligro de esta aerolínea regional. Aeromar logra acuerdo laboral con pilotos y sobrecargos Interjet obtiene crédito de Bancomext por 150 mdd; busca reestructuración Indicó que Aeromar ya adeuda más de 10 millones de pesos a los pilotos por cuestiones de prestaciones laborales, cifra que puede aumentar, ya que mes con mes aumentan estos pasivos. El vocero de ASPA informó que la inyección de 100 millones de dólares de Synergy Group en Aeromar aún no se realiza, por lo que la situación es más grave. Pilotos buscarán rescate ante quiebra Los trabajadores buscarán un rescate de la compañía aérea, con el objetivo de evitar otro caso como el de Mexicana de Aviación. “Estamos en una tarea de rescate, la empresa no ha logrado una inyección de capital lo suficientemente fuerte para que pueda continuar prestando un servicio que se requiere”, mencionó Aguilera. En Aeromar con 32 años de competir en el mercado, laboran 110 pilotos y 200 sobrecargos. https://www.milenio.com/negocios/aeromar-esta-en-quiebra-tecnica-pilotos Pilotos buscarán rescate ante quiebra técnica de Aeromar De no llegar a un rescate se perdería la conectividad en rutas regionales que solo opera Aeromar como Manzanillo o Lázaro Cárdenas, advierte el ASPA. Notimex.- La aerolínea mexicana Aeromar se encuentra en quiebra técnica, por lo que los trabajadores buscarán un rescate de la compañía aérea, con el objetivo de evitar otro caso como el de Mexicana de Aviación. “Estamos en una tarea de rescate, la empresa no ha logrado una inyección de capital lo suficientemente fuerte para que pueda continuar prestando un servicio que se requiere”, mencionó el vocero de la Asociación Sindical de Pilotos Aviadores (ASPA), Mauricio Aguilera. Por ello, se reunirán con autoridades de las Secretarías de Comunicaciones y Transportes (SCT), del Trabajo y Gobernación, para buscar una solución, continuar con la operación de la línea aérea y con 1,110 empleos. Vamos a estar con el gobierno federal para que en afán de sus atribuciones y facultades, de conformidad a la ley de Aviación Civil, pueda junto con Aspa, entrar al rescate de una gran empresa de aviación, estamos dispuestos a agotar hasta el último esfuerzo”. Reiteró que el problema de fondo de Aeromar es la situación operativa y financiera, así como la falta de interés por parte de la dirección y administración de la aerolínea en acciones concretas para “que puedan salir del boquete económico que manifiestan que tienen”. De hecho, refirió que la compañía tiene un adeudo con ASPA por 10 millones de pesos, derivado de conceptos de previsión social al total de los pilotos. Sobre una inversión de Synery Group anunciada en 2016 por 100 millones de dólares con una participación de 25% de las acciones, interés que aumentó 49%, mencionó que ésta no se ha concretado. “No hay claridad en una inversión real, que pueda inyectarle capacidad financiera para que eleve su operatividad. Requerimos la intervención del gobierno federal para no dejar morir a la empresa, que prácticamente está en una quiebra técnica”. De no llegar a un rescate, puntualizó Aguilera, se perdería la conectividad en rutas regionales que solo opera Aeromar como Manzanillo o Lázaro Cárdenas; “es un impacto, se deja incomunicado a lugares donde no son atendidos por las otras empresas”. En Aeromar con 32 años de competir en el mercado, laboran 110 pilotos y 200 sobrecargos, para un total de 1,100 empleos. https://www.forbes.com.mx/pilotos-buscaran-rescate-ante-quiebra-tecnica-de-aeromar/
  2. Slot allocation at airports worldwide is often a complex process, but the divvying up of Avianca Brazil’s slots in the wake of the airline’s demise has been particularly labyrinthine. An auction of the carrier’s assets was initially called off and then held, with LATAM Airlines Group and GOL emerging as the winners. But now it seems Brazil’s government has deemed that auction invalid. That could possibly benefit Brazil’s third largest airline, Azul, which refused to participate in the auction process. Azul has also tapped social media to make its case for slots at São Paulo Congonhas, a strategic airport for all airlines in Brazil. But the outcome of the drawn-out process remains anyone’s guess as Brazil’s domestic market becomes more concentrated after Avianca Brazil’s exit. The race for Avianca Brazil's assets has had many twists and turns Avianca Brazil sought creditor protection near the end of 2018 and subsequently its fleet dwindled as some of the airline’s aircraft were repossessed and others were returned to lessors. In May-2019 Brazilian regulator suspended the airline’s operations. The carrier was the fourth largest domestic airline in Brazil behind its competitors GOL, LATAM Airlines Brazil and Azul, and its market share before it sought creditor protection was between 13% and 15%. The wind-down of Avianca Brazil’s assets – mainly coveted airport slots – has been anything but predictable. Earlier in 2019 Azul forged a non-binding agreement to acquire significant assets of Avianca Brazil, paying USD105 million for 30 Airbus 320 jets and 70 airport slots that included slots at São Paulo Congonhas. Congonhas is a key market for business travellers taking the air shuttle to Rio de Janeiro Santos Dumont airport. Azul’s service from Congonhas includes Porto Alegre, Curitiba, and Belo Horizonte. Its share of departing frequencies is just a fraction of those of LATAM Airlines Brazil and GOL. As of late Jul-2019, Azul had a total of 87 frequencies from Congonhas. São Paulo Congonhas Airport percentage of weekly departing frequencies by airline: as of mid-Jul-2019 Source: CAPA - Centre for Aviation and OAG. After Azul declared its intentions, Avianca Brazil’s largest creditor, the hedge fund Elliot Management, struck a deal with LATAM and GOL for each company to offer USD70 million for Avianca Brazil’s assets at an auction originally scheduled for early May-2019. Avianca Brazil was divided up into seven segments to be auctioned off. After a legal challenge from Swissport Brazil, a court temporarily suspended the auction. Swissport claimed that the transfer of slots was prohibited. Azul then submitted a new bid for of USD145 million for slots pairs, including the slot pairs for shuttle service from Congonhas to Rio Santos Dumont. Before submitting its latest bid for Avianca Brazil’s slots, Azul’s management declared that “Congonhas would have been an incredible cherry on top of the cake for us to show our product to the market”. Brazil's government appears to have taken over Avianca Brazil's slot allocation In Jul-2019 an auction of Avianca Brazil’s seven units occurred, but Azul refused to participate, “because it did not believe in the legitimacy of the procedure”, according to The Rio Times. Both GOL and LATAM Airlines Brazil secured slots at São Paulo Guarulhos, São Paulo Congonhas and Rio Santos Dumont. After the auction, Azul launched a campaign highlighting the duopoly on the air bridge between Santos Dumont and Congonhas, noting that 95% of slots at Congonhas are held by LATAM and GOL. Data from CAPA and OAG comparing seat shares on the air bridge from mid-Jul-2018 to mid-Jul-2019 show that in 2018 Avianca Brazil’s seat share between Santos Dumont and Congonhas was 18.1%, compared with GOL’s 38.6% seat share and LATAM’s share of 43.3%. In 2019 GOL’s share was 51.8% and LATAM’s share was 48.2%. Brazil’s aviation regulator ANAC has reportedly deemed the auction of Avianca Brazil’s asset as invalid and has resumed the process of distributing Avianca Brazil’s slots. How that process will work is somewhat up in the air. ANAC has held consultations with aviation stakeholders regarding the allocation, but the outcome is far from predictable. But ANAC’s assumption of responsibility for the slot allocation should provide Azul some hope that it can gain additional slots at Congonhas. Brazil's domestic market remains stable after Avianca Brazil's exit As ANAC works to allot Avianca Brazil’s slots at Congonhas and other airports, domestic capacity growth in the country’s domestic market for the 5 months ending May-2019 was just 0.3%, with traffic growth of 2.1%. Domestic passengers grew 2.6% year-on-year, to 37.7 million, and GOL, LATAM Airlines Brazil and Azul all grew their respective passenger shares, with Azul’s share jumping 12.9% year-on-year to 25.7%. GOL remained the market leader, with a 34.4% share of domestic passengers – an increase of 3.9% year-on-year. LATAM Airlines Brazil’s market share increased 1.5%, to 31%. Avianca Brazil’s share fell from 12.9% to 8.3% and in ensuing reports released by ANAC, Brazil’s three largest airlines should report even greater gains in passenger share now that Brazil’s fourth largest airline has officially ceased operations. Brazil's domestic market is becoming more concentrated among three airlines The latest statistics from Brazil’s government show that from Jan-2019 to May-2019 GOL, LATAM Airlines Brazil and Azul had a combined domestic passenger share of 91%. Avianca Brazil was still operating limited services during part of that period, and now that the airline has completely ceased operations, Brazil’s domestic passenger share will become even more concentrated among the country’s three largest airlines. Azul is attempting to inject competition into one of Brazil’s busiest and lucrative domestic routes, but for now its ambitions remain in the hands of the country’s regulators. Want More Analysis Like This?
  3. https://www.flytap.com/pt-pt/alertas-e-informacoes O que fazer? Quais as providências?
  4. Latin America’s second largest airline – Avianca Holdings – is facing one of the most tumultuous times in its 100-year history. The airline is navigating financial struggles and a CEO and board shake-up as its majority shareholder was unceremoniously removed as chairman. And although it has no formal ties to Avianca Brazil, the Brazilian airline’s misfortune has forced Avianca to stress that their operations are entirely separate. Now Avianca is in triage mode, but it does have the support from its prospective JV partner, United, which has a vested interest in ensuring that Avianca survives and thrives. Arguably, United’s Latin American strategy rests on Avianca’s rebound. Avianca and Avianca Brazil share a name but are completely separate entities The current iteration of Avianca Holdings is the result of the 2009 merger of Avianca and Taca. Avianca is Colombia’s flag carrier and is celebrating its 100th anniversary this year. Taca was the leading airline in Central America, and now under Avianca Holdings the group operates 12 airlines across Latin America. After the merger Synergy Group remained Avianca’s largest shareholder, and also used the Avianca brand to transition the Brazilian airline Oceanair to Avianca Brazil. But the two airlines always operated separately, and although there were discussions held about merging the two companies, nothing ever materialised. Avianca Brazil sought creditor protection in Dec-2018 and Brazilian regulators recently suspended the airline’s operations. There is a bit of a scuffle for Avianca Brazil’s assets, with Azul, LATAM and GOL all vying for various pieces of the airline, including valuable airport slots. Even though Avianca and Avianca Brazil are entirely separate entities, confusion still arises over their operations, and when Avianca Brazil sought creditor protection, Avianca had to clarify that it was not part of Avianca Brazil. The extent of their relationship was a limited codeshare. Avianca fights challenges from all sides, including a CEO and board shake-up Avianca posted a USD68 million loss in 1Q2019 and was recently downgraded by S&P after the ratings agency determined that it had taken the company longer than expected to refinance USD550 million in bonds due in 2020. The company’s former CEO, Hernán Rincón, has also abruptly left the airline, and more recently there’s been a shake-up in Avianca’s board. BRW Aviation, which holds Synergy’s controlling share of Avianca, defaulted on a USD456 million loan from United Airlines which was secured by BRW’s shares in Avianca. After the default, United opted to give Kingsland Holdings control of BRW’s shares. Kingsland is Avianca’s second largest shareholder and is led by Roberto Kriete, who was CEO of TACA. Mr Kriete and the head of Synergy, German Efromovich, have clashed over the years. With the transfer of power to Kingland, Mr Efromovich has been ousted as Avianca’s chairman and replaced by Mr Kriete. It is a dizzying cascade of events as Avianca works to fight currency challenges in its operating countries and regain profitability. It is also a tough blow for Mr Efromovich, who purchased Avianca out of bankruptcy in 2004 and was no doubt a guiding force through the merger with TACA. But Mr Efromovich and his brother José have other issues too. In addition to Avianca Brazil’s troubles, Bloomberg has reported that shipyards run by Mr Efromovich have shut down. United takes necessary steps to ensure that Avianca remains a strong JV partner United has stated that it is willing to lend Avianca an additional USD150 million - it has a vested interest in Avianca’s well-being. United, Avianca and Panama’s Copa Airlines are working to forge a joint venture covering routes from the US to Central and South America. Their proposed JV was in response to LATAM's attempt to create an immunised relationship with American Airlines covering flights from the US to Brazil, Chile, Colombia, Paraguay, Peru and Uruguay. The Chilean Supreme Court recently rejected the LATAM-American tie-up and a similar proposed JV between LATAM and IAG, agreeing with Chilean tourism and consumer groups that the JVs would be anticompetitive. Although the decision by the court is a blow to LATAM, it can push forward with other JVs, including Latin America’s largest aviation market, Brazil, and its third largest market, Colombia. United and Brazil’s third largest airline Azul have had discussions regarding a JV, which would give United an immunised relationship in that strategic market. Avianca is Colombia’s largest airline, representing 53% of the country’s system ASKs. Domestically, Avianca holds an approximate 55% market share. The proposed JV with Avianca would also give United a foothold in Latin America’s third largest aviation market. Colombia system ASKs by airline, as of late May-2019 Source: CAPA - Centre for Aviation and OAG. LATAM Airlines Colombia is the country’s second largest airline and Colombia is one of the countries included in the LATAM-American proposed JV. Authorities in Colombia and Brazil have already approved the proposed partnership. United essentially needs a healthy Avianca in order to compete effectively with American once its JV with LATAM takes effect, and it has taken what it deems as necessary steps to steer Avianca in a direction towards recovery. Avianca's board changes were necessitated by Synergy's challenges An element of United’s pilot contract prohibits the company from holding a majority ownership in another airline, which necessitated the move to put Kingsland in control. It is not likely that United wanted to control another airline, but it obviously wants to maintain a certain level of influence over Avianca. There is little doubt that United did not want to be mired in a board shake-up at Avianca; but Synergy’s woes created some unusual circumstances that United needed to address quickly. https://centreforaviation.com/analysis/reports/south-america-united-airlines-takes-steps-to-rectify-aviancas-unrest-475767
  5. Ezra Fieser 23/05/2019 09h27 (Bloomberg) -- A Avianca era uma companhia aérea com 37 aviões antigos quando German Efromovich apostou na empresa e evitou sua falência em 2004. Ao longo de 15 anos, o empresário boliviano transformou o negócio em uma potência regional e na segunda maior companhia aérea da América Latina. Mas, apesar de todo o sucesso, a empresa com sede em Bogotá enfrenta novamente um período turbulento. As ações da Avianca acumulam queda de quase 75% desde a abertura de capital em 2011, e seus títulos são negociados em território "distressed" diante da expectativa de que a aérea vai ter dificuldades para refinanciar a dívida. O prejuízo da Avianca no primeiro trimestre foi o maior desde 2015. O maior responsável pela turbulência é o mesmo que, até pouco tempo, era tratado como herói: German Efromovich. O milionário self-made colocou em risco o futuro da companhia aérea no ano passado, oferecendo sua participação de 51,5% na Avianca como garantia de um empréstimo da United Continental Holdings. Sua holding, a BRW Aviation, rapidamente violou os termos do contrato e, como resultado, o controle de Avianca poderia passar para as mãos da United. Embora essa mudança provavelmente seja positiva para acionistas minoritários e detentores de bônus da Avianca, a atual incerteza criou uma miríade de problemas para a companhia, ao mesmo tempo em que um vencimento de US$ 550 milhões em bônus se aproxima no ano que vem. "Estamos muito preocupados com a instabilidade da empresa no momento", disse Jaime Hernandez, presidente do sindicato de pilotos colombianos ACDAC, que em 2017 fizeram uma greve de quase dois meses para exigir melhores salários e benefícios. "Éramos uma ótima empresa e, recentemente, a administração tem sido muito ruim para nossas operações, nossa reputação." Efromovich, que também é presidente do conselho da Avianca Holdings, disse em entrevista a uma rádio em Bogotá na terça-feira que não havia possibilidade de a United assumir o controle da empresa em breve. A situação da Avianca está "sob controle", disse à Blu Radio. Em resposta por escrito às perguntas da Bloomberg, Efromovich negou que os problemas em seus outros negócios estejam trazendo riscos para a Avianca, que não faz parte do empréstimo. "Tudo está alinhado com a United conforme o contrato de empréstimo. Não há nada para corrigir ", escreveu. A United disse que não assumiu o controle das ações da Avianca e que está trabalhando com a holding BRW. Situação pode mudar a qualquer momento Mas é uma opção que pode ser exercida a qualquer momento. A decisão acionaria cláusulas relacionadas à mudança de controle em vários empréstimos e que poderiam forçar a companhia a buscar US$ 1,5 bilhão para pagar credores, segundo analistas da corretora Corredores Davivienda, de Bogotá. O valor supera em mais de quatro vezes o montante que a empresa tinha em caixa no fim do primeiro trimestre. Mesmo que a United não assuma o controle da companhia aérea, apenas o fato de poder fazê-lo complica os esforços da Avianca para operar e obter financiamento. Os investidores estão cautelosos em emprestar para uma empresa que, a qualquer momento, pode ficar na corda-bamba por não ter recursos para pagar credores. A Avianca é apenas o mais recente desafio para Efromovich, que viu partes do conglomerado que construiu na América Latina com o irmão, José, ruir nos últimos anos. Seus estaleiros foram fechados. A Avianca Brasil entrou em recuperação judicial. E agora corre o risco de perder a Avianca Holdings. Empresário salvou Avianca da falência É uma reviravolta e tanto desde 2004, quando Efromovich era elogiado em toda a Colômbia por ter resgatado a segunda companhia aérea mais antiga do mundo. (O primeiro voo foi realizado em 1920, transportando passageiros entre os municípios de Barranquilla e Puerto Berrio.) Anteriormente controlada pela família mais rica do país, começou a perder dinheiro na esteira dos ataques terroristas de 11 de setembro e da recessão global que se seguiu. Efromovich comprou a Avianca, que estava em processo de falência, por US$ 64 milhões e assunção de dívida. Formado em engenharia mecânica e tendo estreado no ramo de aviação no Brasil, Efromovich dobrou o número de aeronaves operadas pela Avianca e logo começou a ter lucro. No ano passado, os 190 aviões da Avianca transportavam 30 milhões de passageiros, perdendo apenas para a Latam Airlines na região. A sorte de Efromovich começou a virar em 2014, no início da pior recessão do Brasil. O empresário fez um empréstimo com a Elliott Management para financiar as operações de seus estaleiros, mas que acabaram fechando. (Com a colaboração de Fabiola Moura e Pablo Gonzalez) https://economia.uol.com.br/noticias/bloomberg/2019/05/23/apos-salvar-avianca-efromovich-corre-risco-de-perder-controle.htm
  6. Bom dia a todos, de acordo com o Blog Todos a Bordo: Julgamento sobre recuperação judicial da Avianca é adiado para a próxima 2ª https://todosabordo.blogosfera.uol.com.br/2019/06/10/justica-julga-avianca-segunda-falir/ Por: Ricardo Marchesan e Alexandre Saconi O Tribunal de Justiça de São Paulo (TJ-SP) adiou para a próxima segunda-feira (17) o julgamento sobre o leilão de ativos da Avianca Brasil, que estava marcado para a manhã de hoje. O relator do caso, desembargador Ricardo José Negrão Nogueira, que acatou a liminar que suspendeu o leilão, não compareceu ao julgamento nesta manhã por problemas de saúde, por isso a decisão foi adiada. A ação pode resultar na decretação da falência da empresa aérea. O processo foi movido pela Swissport, empresa que presta serviços de auxílio no solo, que se declarou prejudicada pelo plano de recuperação aprovado na assembleia de credores, ocorrida em abril. O pedido da empresa feito em maio resultou na suspensão do leilão da Avianca em sete fatias. A divisão foi aprovada na assembleia de credores realizada do final de abril, e a suspensão do leilão deixou a companhia aérea em uma situação mais delicada. No documento enviado à Justiça, a Swissport diz ser credora de um valor superior a R$ 17 milhões e pede que o plano de recuperação judicial seja cancelado e que um novo, que atenda aos interesses de todos os credores, seja apresentado. A Avianca ainda enfrenta vários outros processos na Justiça, desde questões relativas à recuperação judicial até mesmo atrasos em voos. Falência A prática de decretar falência mesmo que nenhuma das partes do processo tenha solicitado não é comum no judiciário, mas pode ocorrer por motivos que, por exemplo, envolvam a economia e a ordem pública. Segundo Manoel Justino Bezerra Filho, desembargador aposentado do TJ-SP e professor da universidade Mackenzie, isso é possível no caso da Avianca. "Entendo e defendo o ponto de vista de que o juiz de primeira instância e o tribunal não podem, e nem devem, decretar a falência de ofício [ou seja, sem nenhuma das partes pedir], a não ser em situações muito, mas muito especiais. Entretanto, isso tanto pode ocorrer, como já vi acontecendo no Tribunal", diz Bezerra Filho. O desembargador aposentado ainda lembra que isso já ocorreu em outras situações no próprio TJ-SP, e que não deve ser descartada. "O próprio relator, Ricardo Negrão, já decretou uma ou duas falências de ofício [ou seja, sem que as partes tenham pedido]", afirma. Texto na íntegra no link acima. Transcrevi o mais relevante.
  7. There is no doubt that the shrinking of Avianca Brazil has altered market dynamics in Brazil’s domestic market, and the country’s three largest airlines believe Avianca Brazil’s bankruptcy will create opportunities for the country’s remaining carriers. GOL, LATAM Airlines Brazil and Azul have all been vying for Avianca Brazil’s assets but the government suspended an asset auction, including airport slots, and now the fate of Avianca Brazil is anyone’s guess. While the government drags its feet on rescheduling an auction or some other form of asset dispersal, Avianca Brazil continues to languish with Brazilian operators suspending the airline's operations. As the uncertainty over the fate of Avianca Brazil shows no signs of disappearing in the near future, Brazil’s airlines maintain a reasonably positive view of the domestic market, despite headwinds created by rising fuel prices and currency devaluation. Avianca Brazil's market share falls as its fleet shrinks Brazil’s domestic travel increased by 4.3% year-on-year in 1Q2019 on 3.4% capacity growth. GOL remain the domestic market share leader, with a 36% share. LATAM Airlines Brazil’s share slipped 2.8ppt year-on-year to 30.8%, and Avianca Brazil’s share plummeted 12.2% to 11.0% as its ASKs dropped 7.5%. Brazil domestic traffic share by airline for 1Q2019 Airline Domestic share GOL 36% LATAM Airlines Brazil 30.8% Azul 21% Avianca Brazil 11.9% Source: Brazil ANAC. Avianca Brazil sought creditor protection in Dec-2018, and since that time the airline has had some aircraft repossessed and has returned others to lessors. CAPA’s fleet database shows the airline has six aircraft in its operating fleet as of late May-2019 – down from an operating fleet of close to 50 aircraft. Avianca Brazil fleet summary as of mid-May-2019 Source: CAPA Fleet Database. The capacity reduction is in some ways strengthening an already rational domestic market in Brazil. Recently, executives from Azul remarked that at one point Avianca Brazil had approximately a 13% to 15% market share in Brazil, and “we believe that in all scenarios only about half that capacity will ever put back into the market, which I think is very healthy overall for Brazil”, said chief revenue officer Abhi Shah. LATAM Airlines ups 2019 Brazil domestic capacity as Avianca Brazil shrinks Citing a healthy demand environment and the “declines recently made by one of our competitors”, LATAM Airlines Brazil’s management have said that the airline is boosting its domestic capacity growth in Brazil in 2019 5% to 7%, from original projections of an increase of 2% to 4%. LATAM Airlines Group is shrinking its planned international growth to flat to a 2% increase, a reduction from previous estimates of a 3% to 5% expansion. The company’s overall capacity growth for 2019 is now projected at 3% to 5%, versus previous estimates of an increase of 4% to 6%. LATAM has agreed to forge leasing deals on 10 Airbus A320s that the lessor Aircastle reposed from Avianca Brazil and has not made a final decision about where those aircraft will be deployed. The company believes that opportunities exist in Brazil, as well as Chile, Peru and Colombia. Avianca Brazil's reorganisation has been mired in unpredictability Avianca Brazil’s bankruptcy protection has been complex and somewhat temperamental. Earlier in 2019 Azul forged a non-binding agreement to acquire significant assets of Avianca Brazil, paying USD105 million for 30 Airbus 320 jets and 70 airport slots that included slots at São Paulo Congonhas. Azul does not currently serve Congonhas, which is key market for business travellers taking the air shuttle to Rio de Janeiro Santos Dumont airport. See related report: Brazil aviation: positive outlook and Azul is still opportunistic Subsequently, Avianca Brazil’s largest creditor, the hedge fund Elliot Management, struck a deal with each of LATAM and GOL to offer USD70 million for Avianca Brazil’s assets at an auction originally scheduled for early May-2019. The company was divided up in seven segments to be auctioned off. After a legal challenge from Swissport Brazil, a court temporarily suspended the auction. Swissport claimed that the transfer of slots was prohibited. At the same time, Azul has submitted a new bid for of USD145 million for slots pairs, including the slot pairs for shuttle service from Congonhas to Rio. Prior to submitting its latest bid for Avianca Brazil’s slots, Azul’s management declared that “Congonhas would have been an incredible cherry on top of the cake for us to show our product to the market”. There has been no indication of a rescheduling of the auction, but Reuters is reporting that Elliot has opposed Azul’s latest bid, which further muddies the fate of Avianca Brazil. LATAM executives have stated that if there is no action for Avianca Brazil’s airport slots then the process would fall under current rules, which means they would be returned to a pool and distributed to the “current players”. As a result, Azul would lose out on an opportunity at Congonhas. Brazil's domestic market remains on solid ground, driven by sustained demand As the industry waits for the outcome of Avianca Brazil’s bankruptcy, the overall domestic market in Brazil remains solid despite rising fuel expense and currency pressure. LATAM has calculated that the BRL/USD average exchange rate for 1Q2019 was BRL3.77 per USD. Its Brazilian unit revenues denominated in the BRL grew 7.2% year-on-year in 1Q, but dropped by 7.2% measured in the USD. The company has seen fares increase and is forecasting double digit BRL unit revenue growth for its domestic operations in Brazil during 2Q2019. GOL’s year-on-year 2Q2019 unit revenue comps will be slightly inflated due to a trucker’s strike in Brazil during mid-May-2018 that pressured demand. But the airline is experiencing strong bookings and yields in Brazil’s domestic market. Azul has also commented it had experienced solid bookings in Apr-2019 and May-2019, noting a favourable balance between volumes and fares. Brazil's airlines should continue to maintain rational capacity growth Brazil’s domestic airlines have maintained a positive view of the domestic market over the past few months as the country slowly emerges from a recession. For now, it seems that those airlines are achieving a certain level of fare traction in the market as Avianca Brazil has now ceased operations. There is little doubt that at some point Avianca Brazil’s assets will be absorbed by the remaining airlines, and it appears those operators are aiming to maintain some degree of rational capacity growth in Brazil. https://centreforaviation.com/analysis/reports/brazilian-aviation-avianca-brazils-decline-assets-for-grabs-474772
  8. http://www.aviacionnews.com/blog/2019/05/pese-a-los-malos-pronosticos-avianca-argentina-deposita-su-esperanza-en-la-subasta-de-activos-de-avianca-brasil/ Por SGR - 05/02/2019 La noticia, publicada esta semana por un diario económico de Argentina, generó preocupación tanto en despachos oficiales como entre los empleados que aún resisten desde la empresa. La nota afirmaba categóricamente que Avianca Argentina habría de quebrar en 20 días. En la empresa no están de acuerdo con este diagnóstico, aunque reconocen que la empresa transita una etapa que bien podría resumirse en la palabra “aguantar” -vaya uno a saber hasta cuando- y en “perder la menor cantidad posible de plata”, que obviamente alguien pone para mantenerla con vida. Hoy Avianca Argentina solo dispone de dos ATR para atender el par de destinos que aún mantiene en pie: Santa Fe y Mar del Plata. Programación que con un ATR alcanza. Más que los 20 días que le auguran de vida, la expectativa de quienes aún no pierden las esperanzas están puestas en el 7 mayo, cuando el juez brasileño que lleva la convocatoria de Avianca Brasil abra los sobres con las ofertas por las siete “Unidades Productivas Aisladas” (slots, aviones, personal, programa de fidelidad, etc.) en que se han dividido los activos de la compañía. Recién entonces se sabrá a que quedó reducida la hasta ahora 4º aerolínea brasileña y a cuánto ascienden los fondos recaudados en la subasta que irán a la empresa residual encargada de responder por los pasivos. Si bien legalmente se puede afirmar que Avianca Holding, Avianca Brasil y Avian Líneas Aéreas (Avianca Argentina) son sociedades independientes, las tres están atravesadas por un único apellido: Efromovich (Synergy Group). Más en el caso de Avianca Argentina que nació “colgada” de Avianca Brasil, que además es su garante. La devaluación de mediados del 2018 y la anulación ante de despegar del vuelos Buenos Aires-San Pablo fueron dos golpe duros para la filial argentina. Lo cierto es que hoy todas las empresas están en dificultades: Avianca Holding perdió estos días, sorpresivamente, a su presidente Hernan Rincón, cuyos motivos expuestos en la renuncia nadie cree. Su Germán Efromovich, presidente de la Junta Directiva y principal accionista, tiene además una deuda con United Airlines por U$S 450 millones, préstamo garantizado con acciones de la empresa colombiana. La compañía brasileña, por su parte, en convocatoria de acreedores y la argentina, con pedido de “proceso preventivo de crisis”, y a la espera de un milagro. Recién el 7 de mayo se sabrá si los milagros existen.
  9. Com o desmantelamento das operações da Avianca Brasil, consequência da grave crise que afeta a empresa, o mercado aéreo brasileiro toma um rumo de consolidação forçada. As companhias aéreas mais imediatamente beneficiadas são Azul e a Latam, que receberão, juntas, 20 aeronaves ex-Avianca. A saída quase que total da Avianca do mercado aéreo representa uma péssima notícia para os passageiros; em reportagem recente, O Estado de São Paulo revelou que as passagens aéreas aumentaram de preço no Brasil em razão da crise na empresa, resultando num desembolso 14% maior e alguns trechos com até 140% de aumento. Nesse processo, e enquanto o leilão das UPIs da Avianca não ocorre, beneficiam-se mais rapidamente a Azul e a Latam. Por operarem frotas de aeronaves Airbus, as duas rapidamente assumiram uma boa parte da frota da Avianca. Ao todo, a Azul ficou com 10 A320 ex-Avianca, quase todos já voando com as novas cores, enquanto que a Latam recebeu 10, que estão aguardando a repintura em São Carlos, antes que sejam incorporadas na frota. A Avianca passa a ter apenas 5 aeronaves. A GOL se beneficia pelo aumento da procura bilhetes, mas sua frota de Boeing e o fato de os 737 MAX estarem parados, delimitam o poder de absorção da demanda. Fonte: https://www.aeroin.net/azul-ja-opera-8-aeronaves-ex-avianca/
  10. https://economia.uol.com.br/noticias/estadao-conteudo/2019/05/05/uma-empresa-aerea-quebra-a-cada-dois-anos-no-pais.htm 2/8 São Paulo 05/05/2019 09h52 Luciana Dyniewicz Um leilão marcado para ocorrer na terça-feira, em um edifício próximo à Avenida Paulista, em São Paulo, colocará fim a mais uma companhia aérea brasileira. A Avianca Brasil será a 11.ª empresa do setor a encerrar as operações desde 2001 no País, que tem taxa de mortalidade de uma empresa a cada dois anos. Os casos de falência ou de recuperação judicial na aviação não são exclusividade do Brasil. Neste ano, outras nove empresas aéreas endividadas deixaram de voar no mundo, desde pequenas, como a sul-coreana AirPhilip, até companhias mais relevantes, como a Jet Airways, que chegou a ser uma das maiores da Índia. Nos EUA, American Airlines, Delta e United já tiveram de recorrer ao Chapter 11, o equivalente à recuperação judicial brasileira, mas acabaram sobrevivendo. Margens baixas, necessidade de injeções volumosas de capital, contratos de longo prazo com arrendadoras de aeronaves e vulnerabilidade ao preço do combustível --e ao dólar, no caso brasileiro-- estão entre os fatores que explicam a elevada taxa de mortalidade. "É uma indústria muito difícil no mundo todo", diz Jerome Cadier, presidente da Latam no Brasil. "Temos incerteza de curto prazo em relação à demanda e necessidade de tomar decisões de longo prazo, como o tamanho da frota. São decisões caras e difíceis de tomar." Foram basicamente duas dessas decisões que tornaram a situação da Avianca insustentável nos últimos anos, segundo analistas. Uma delas foi a de não enxugar a frota em 2015 e 2016, período mais delicado da aviação brasileira desde os anos 2000. Foram nesses anos que a crise econômica derrubou a demanda por transporte aéreo e os custos foram pressionados pela alta do dólar e do petróleo. Nessa época, muitos apostaram que a Gol seria a primeira a sucumbir - dado seu nível de endividamento -, mas uma renegociação com credores, aliada a um plano de devolução de aeronaves, garantiu a virada do jogo. Latam e Azul fizeram movimentos semelhantes em suas frotas e contaram ainda com novos recursos --a primeira vendeu uma participação para a Qatar e a segunda abriu capital. A Avianca, porém, não recuou no número de aeronaves, em uma tentativa de ganhar participação de mercado. Outra decisão equivocada foi a entrada no mercado internacional, em 2017. Um voo para o exterior tem um custo médio dez vezes superior ao de um doméstico. Se o avião não sai lotado, portanto, o prejuízo é grande. A operação internacional da Avianca queimou rapidamente o caixa da companhia, que já não tinha boa performance. Os resultados da empresa nunca foram dos melhores devido, em parte, ao fato de ela voar principalmente em rotas disputadas por Latam e Gol. A Gol foi a primeira companhia nacional a adotar um modelo de negócio de custo baixo, obrigando a Latam a ir por um caminho semelhante. Com aviões novos, mais eficientes e alta utilização da frota (em média voando 12 horas por dia, quando a média nacional era de 7 horas), a Gol estreou no mercado com um custo 40% inferior ao da Varig e da então TAM (hoje Latam). A Varig quebrou ao resistir ao corte de custos. A TAM se salvou justamente por fazê-lo - eliminou, mais recentemente, até a tradicional balinha de boas-vindas. Competição Gol e Latam se tornaram, assim, muito competitivas - o que tem dificultado a entrada de novas companhias no setor e feito novatas quebrarem no caminho, diz o especialista no setor aéreo André Castellini, sócio da consultoria Bain & Company. Para tentar ganhar passageiros em rotas dominadas pelas concorrentes, a Avianca apostou em preços inferiores para passagens compradas de última hora, apesar de oferecer um serviço muitas vezes superior - e mais caro -, como comida quente e espaço maior entre poltronas. A estratégia poderia funcionar para ganhar participação de mercado, mas não era sustentável no longo prazo. A Azul foi a única que conseguiu, até agora, entrar com sucesso no setor dominado por Latam e Gol. A receita foi fugir das rotas nas quais as duas estão presentes. Ajudou também o fato de ela começar a crescer quando a crise dava os primeiros sinais, obrigando Latam e Gol a focarem nas próprias operações, e não na concorrente. A questão é que atuar no mercado secundário é mais caro. Entrar no segmento da Azul tem, portanto, um desafio extra para uma possível nova estreante. As informações são do jornal "O Estado de S. Paulo"
  11. Brazil’s two largest domestic airlines – GOL and LATAM Airlines Brazil – have reasonably solid outlooks for their performance in the country during 2019 as the country marches toward an economic recovery. Uncertainty remains over the fate of Brazil’s fourth largest airline, Avianca Brazil. The airline sought bankruptcy protection in late 2018, and recently Brazil’s third largest airline Azul stated that it had entered a non-binding agreement to acquire some of Avianca Brazil’s assets – aircraft and slots at some of Brazil’s key airports. If those plans materialise, capacity rationalisation should be maintained in Brazil’s domestic market; however GOL and LATAM could find a formidable competitor in some key airports in Brazil. Azul has a track record of making opportunistic acquisitions to accelerate its position in Brazil’s domestic market – the largest in Latin America. Brazil posts solid domestic passenger growth in 2018; 2019 is off to a good start In 2018 Brazil posted 3.3% growth year-on-year in domestic passenger numbers, compared with an increase of 2% in 2017 and negative growth of 7.8% in 2016. Nearly 94 million passengers travelled in Brazil’s domestic market in 2018, which was still below the 96 million recorded in 2015 before the country’s recession hit its low point. Brazil domestic passenger growth from 2013 through Jan-2019 Source: CAPA - Centre for Aviation and Brazil ANAC. The country’s tepid GDP growth of 1.1% in 2018 was largely driven by a truckers' strike and uncertainty over Presidential elections in Brazil. Its new President, Jair Bolsonaro, is largely viewed as business-friendly, and Azul has stated that the new administration appears to be taking all the right steps to promote the economic development of the country. Recently, GOL’s executives remarked that Brazil’s Central Bank was forecasting 2.5% GDP growth in 2019, and ABEAR, the association of Brazil’s airlines, estimates domestic air travel demand should grow 5% to 7%. GOL’s domestic traffic grew 3.1% in 2018 and load factors notched up 0.6ppts, to 80.8%. Its average fares increased 8% year-on-year and yields increased 7.7%. Brazil did face currency pressure in 2018, but the fluctuations largely affected international demand to North America and Europe. Both GOL and LATAM Airlines Brazil had reasonably positive views of Brazil’s domestic market at the end of 2018, and those views appear to be holding steady into early 2019. GOL and LATAM believe there are positive trends in the Brazil's domestic market GOL’s management has concluded that “business activities” were up year-on-year in late 2018 and early 2019, which was sustaining higher yields in the domestic markets. Additionally, the Carnival holiday was in Mar-2019 versus Feb-2018, which was positive for extending the the summer travel season in the country. Both GOL and LATAM Airlines Group have highlighted a certain level of capacity rationalisation in Brazil’s domestic market. Data from the Brazilian regulator ANAC show that domestic ASKs grew 4% year-on-year in Jan-2019. GOL has forecast that its domestic capacity will increase 2% to 4% in 2019, and LATAM Airlines Brazil expects its domestic ASKs to grow in the same range for the year. Azul is forecasting 16% to 18% domestic capacity growth. LATAM, which posted a 10.2% increase in domestic Brazil unit revenues in 4Q2018 (denominated in BRL, the result was a 6.2% decrease denominated in the USD), recently concluded that there are good trends in Brazil’s domestic market. However, “we believe that capacity discipline is very important to the market”, company executives recently stated. Data from Brazil’s ANAC and CAPA show that 2018 was the first year that Brazil’s domestic ASKs had increased above 1% since 2014. ASKs fell approximately 6% year-on-year in 2016 during a two-year recession in the country that began to wane in 2017. Brazil domestic ASK growth from 2013 through Jan-2019 Source: CAPA - Centre for Aviation and Brazil ANAC. Azul stresses its pursuit of Avianca Brazil's assets won't upset capacity balance In Dec-2018, Brazil’s fourth largest airline, Avianca Brazil, sought bankruptcy protection as lessors threatened to repossess the airline’s aircraft. Data from ANAC show that Avianca Brazil’s domestic traffic share fell to 11% to 12.9% in Jan-2019, and its ASKs fell 7.2% year-on-year. Brazil domestic traffic share by airline for Jan-2019 Airline Percentage share GOL 39% LATAM Airlines Brazil 30% Azul 20% Avianca Brazil 11% Source: Brazil ANAC. Azul has forged a non-binding agreement to acquire significant assets of Avianca Brazil, including 30 Airbus 320 jets and 70 airport slots for USD105 million. The Rio Times has reported that the deal could allow Azul to bolster its slots at the close-in, high-yielding domestic airport São Paulo/Congonhas airport, which would be a positive strategic development for the airline (it will also gain slots at other airports if the deal is approved). Data from CAPA and OAG show that presently (as of mid-Mar-2019) Azul accounts for 5% of departing frequencies at the airport. Azul is also reportedly hoping to gain slots at São Paulo Guarulhos and Rio de Janeiro Santo Dumont. São Paulo Congonhas: percentage of departing frequencies by airline, as of mid-Mar-2019 Source: CAPA - Centre for Aviation and OAG. Azul’s 16% to 18% capacity growth in 2019 includes some A320s that Avianca Brazil has already disposed of as part of its transformation plan, Azul executives recently explained. The company’s management stressed that it expected capacity rationalisation to remain intact if the proposed deal to acquire Avianca Brazil’s assets was finalised. It is a logical assumption, given that it is largely a transfer of assets designed to bolster Azul’s position in the domestic market. When Azul announced plans to purchase the regional Brazilian airline TRIP in 2012, Azul’s domestic market share was approximately 10%, and TRIP had a 4% share. The acquisition allowed Azul to obtain a higher share than it could have done through pure organic growth. Essentially, the acquisition of TRIP accelerated Azul’s growth by broadly four years. Azul has been opportunistic in Brazil's domestic market place Even as Azul believes its pursuit of Avianca Brazil’s assets will not materially affect the capacity balance in Brazil’s domestic market, in key markets GOL and LATAM will face a more formidable competitor with a more solid financial footing. Azul is marking more than a decade in service, and in that short period of time has been opportunistic in acquiring TRIP to bolster its position in Latin America’s largest aviation market. https://centreforaviation.com/analysis/reports/brazil-aviation-outlook-positive-trends-and-azul-still-opportunistic-464553
  12. Desde a última semana, empresa vem sendo alvo de ações pedindo a retomada de aeronaves arrendadas por falta de pagamento Renée Pereira e Cynthia Decloedt, O Estado de S.Paulo 11 Dezembro 2018 | 15h40 A Avianca Brasil entrou nesta segunda-feira, 10, às 15h23 com pedido de recuperação judicial, na 1ª Vara Empresarial de São Paulo, apurou o Estado. O pedido, de R$ 50 milhões, está em segredo de Justiça. A empresa ainda não respondeu ao pedido de entrevista. Desde a semana passada, a empresa vem sendo alvo de ações pedindo a retomada de aeronaves arrendadas por falta de pagamento. Após se expandir rapidamente, a Avianca no Brasil enfrenta dificuldades para pagar fornecedores, cumprir obrigações com concessionárias de aeroportos e pode ter de devolver aviões. O Estado apurou que a dívida com todos os aeroportos brasileiros, públicos e privados, chega a quase R$ 100 milhões – só com o de Guarulhos são R$ 25 milhões. Nos últimos dias, no entanto, a companhia conseguiu pagar parte das dívidas. Com pagamentos atrasados junto a fornecedores e obrigações com concessionárias de aeroportos, a companhia aérea está sob risco de ter de devolver 11 aviões, equivalentes a 18% de sua frota, à Constitution Aircraft. A companhia captou recentemente R$ 130,7 milhões com os bancos ABC, Daycoval, Safra e Fibra, com vencimentos entre 2018 e 2021, elevando para R$ 306 milhões o endividamento da companhia ao final do terceiro trimestre. No fim de 2017, estava em 194 milhões. https://economia.estadao.com.br/noticias/negocios,avianca-entra-com-pedido-de-recuperacao-judicial,70002641959
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