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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.
SpiceJet pays ₹4.53-cr principal amount dues to AAI; seeks time to pay interest
Mumbai |
Updated on
Forum Gandhi
SpiceJet has made partial payments of dues towards the Airports Authority of India to avoid encashment of its bank guarantee. It has paid ₹4.31 crore as upfront cash, partial interest payment of ₹14 lakh, ₹20 crore TDS till December 2020.
The debt-strapped airline has also proposed to pay the rest TDS amount in two instalments before June 30 and requested waiver of interest dues.
According to a letter submitted by SpiceJet to AAI on April 1, the low-cost carrier said that it has paid ₹4.53 crore as on March 31, thus bringing the current outstanding principle amount of of ₹115.41 crore within 75 per cent of bank guarantees and 100 per cent of cash deposit towards total security cover of ₹153.63 crore complying with the settlement proposal.