Brasil’s 4th largest airline has filed for bankruptcy yesterday citing the reason as “our operations had been threatened by potential repossession of aircraft, which could prevent us from continuing to operate.”
The news comes amid struggles for several South American airlines because of rising fuel prices and the strong value of the US dollar.
Latin American airlines have been struggling in general this year due to the fact that they have to pay most of their expenses including fuel in U.S dollars while billing passengers in a much more volatile currency.
More details in the article below.
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