Advertisement:
Due to the impact of the COVID-19 pandemic, the Latin American big four airlines (LATAM Airlines Group, Avianca, Grupo Aeromexico, and Copa Airlines), have retired and rejected leases of 130 aircraft so far. Nevertheless, we expect more goodbyes, mainly from the three carriers currently under Chapter 11 bankruptcy processes. Let’s investigate further.
The legacy airlines in Latin America, LATAM, Avianca, Aeromexico, and Copa Airlines, have reduced the size of their fleets. Photo: Vincenzo Pace | Simple Flying
LATAM Airlines’ losses
LATAM Airlines Group is the largest airline company in Latin America. It has domestic branches in Chile, Brazil, Colombia, Ecuador, and Peru. Earlier this year, it finalized the 15-year history of LATAM Argentina.
Copa Cuts Venezuela Flights As Airspace Closes To Panamanian Carriers
Advertisement:
Copa Airlines had to cut its flights to Venezuela last week after the Venezuelan Government unilaterally decided to prohibit Panamanian carriers’ access. After eight months of grounded operations, Copa was one of the few airlines in the world to have flights to Venezuela.
Copa Airlines stopped flying to Venezuela, due to the Venezuelan government restrictions. Photo: Getty Images
What did Venezuela do?
According to the Panamanian Government, Venezuela closed its airspace to Panamanian carriers on December 12. That is, it prohibited flights to the only Panamanian airline operating in Venezuela: Copa Airlines. Air Panama only flies domestic routes.
Advertisement:
Even though Copa Airlines just linked its first back-to-back quarterly losses in history, the Panamanian carrier is confident that it will bounce back stronger from the COVID-19 pandemic. It will do it by using its hub, Tocumen International Airport, as a stronghold for connecting America. Let’s investigate further.
Copa Airlines will use Tocumen Airport as a boost for its connectivity. Photo: Getty Images
The Hub of the Americas will live up to its name
Tocumen International Airport serves Panama City. But, more than that, it serves as a connecting point between North and South America. It is known, from a marketing point of view, as the Hub of the Americas.