An Important Chilean lubber company leaves highly volatile Argentina
Chilean timber company Masisa Wednesday announced it had liquidated all its assets in Argentina to abandon all its operations in the highly volatile neighbouring country. Sadly, it is a pattern of retreat from the Argentine marketplace of many large international investors due to its mismanaged economy and unorthodox Peronist policies, which have resulted in high levels of corruption, inflation and capital flight. Masisa sold its share in Forestal Argentina S.A. and Masisa Forestal S.A., in addition to 72,000…
New Zealand Again Reconnects With South America
After a two-year absence, New Zealand’s direct air connections with South America have been restored with the touchdown of LATAM at Auckland Airport this evening. Today’s arrival marks the start of the three times weekly service, building to five times a week from July, with each Boeing 787-9 Dreamliner flight touching down twice a day as it makes the round trip between Santiago, Chile and Sydney. Scott Tasker, General Manager of Aeronautical Commercial at Auckland Airport, said since the COVID outbreak…
Latam Airlines returns to Oceania two years after a two-year pause
South American airline Latam is resuming services to Australia and New Zealand in March, two years after it suspended the service because of the coronavirus pandemic. Previously the government-controlled Air New Zealand provided strong competition for this popular route but financial troubles struggled to stay afloat during the pandemic meant it curtailing most non-domestic routes leaving Latam to fill the void. Latam Oceania country manager Chris Ellis said it would resume flights from Sydney to Santiago,…
Latam Airlines reaches a deal with its creditors that allow it to rebuild its fleets.
Latam Airlines Group SA has reached a deal with key stakeholders that paves the way for the Chilean carrier to slash debt and exit bankruptcy under new ownership. Latam Airlines Group SA has reached a deal with key stakeholders that paves the way for the Chilean carrier to slash debt and exit bankruptcy under new ownership. Latin America’s largest airline plans to raise around $5 billion by issuing shares and convertible notes to current stockholders and creditors as it exits Chapter 11 bankruptcy, according…
Latam Air Files Chapter 11 Bankruptcy, Stymied by Lockdowns
Latam Airlines Group SA, Latin America’s largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region. The Chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn around the business. Latam, whose shareholders include Chile’s Cueto family and Delta Air Lines Inc., continues to operate on a reduced schedule, and it has commitments for a bankruptcy loan of up to $900…
LATAM Airlines for the second year running, “Best Global Airline in South America”
LATAM Airlines Group was named for the second year running as the ‘Best Global Airline in South America’ in the Passenger Experience Association of Airlines (APEX) Passenger Choice Awards in Los Angeles, California. LATAM was also recognized for the ‘Best Seat Comfort’, ‘Best Cabin Service’, ‘Best Entertainment’ and ‘Best Wi-Fi’ in South America. “For LATAM, our passengers are our priority and it is an honor to receive this distinction, based on their feedback, for the second consecutive…
LATAM wants to dominate South America with its new planes
In operation since 2015, LATAM is one of newest international airline brands in the world. Yet it’s one backed by nine decades worth of history and experience. LATAM is the largest airline in Latin America with 46,000 employees operating subsidiaries in Argentina, Brazil, Chile, Colombia, Ecuador, and Peru. LATAM’s modern fleet is made up of more than 300 state-of-the-art Boeing and Airbus jets. The airline has one of the newest fleets in the world with an average age of just seven years. LATAM…
Competition versus Cooperation and low-cost flights to South America
A New Opportunity for the Commercial and Vacation Traveler from the Oceania Air Hub to South America “Competition is always a good thing, it forces us to do our best while a monopoly renders people complacent and satisfied with mediocrity,” the US writer Nancy Pearcey once said. In Pearcey’s view on the matter, the low-cost airlines poised for take-off in Argentina will be a boon for travellers. Domestic and international airfares in Argentina are very expensive by comparison to Europe and North America…
