Fri. Jan 18th, 2019

Avianca Brasil will have to return 20% of its fleet to a leasing company | Economy

Avianca Brasil will have to return 20% of its fleet to a leasing company | Economy



The company of leasing Aircastle will recover ten aircraft from Avianca Brasil after a hearing in the bankruptcy process that the company took, which represents 20% of the airline's fleet, the fourth in the country. The loss of ten A320s is raising doubts about the company's ability to maintain its full flight schedule or whether it will affect the flights of thousands of passengers.

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In addition, Avianca Brasil could lose more planes as GE Capital Aviation Services aims to recover the 12 A320 that it leased from the airline, according to a company spokesperson. When requesting bankruptcy protection last December, Avianca Brasil raised the possibility of losing 14 planes, which would affect 77,000 passengers in three weeks. The declaration of bankruptcy came after years of losses and late payments of aircraft.

Avianca Brasil is separated from Avianca Holdings, which is based in Colombia, but share the same owner, German Efromovich. Last November the company received a loan from United Continental Holdings for 435 million euros, although it has not been revealed what it was intended for. Efromovich has been sued for not paying debts in the United States and Brazil.

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