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the subsidiary LATAM Argentina suspends its operations indefinitely due to the panorama of the airline industry generated by the COVID-19.
In an official statement published by LATAM Airlines Group, the following was indicated:
The cessation of operations of LATAM Airlines Argentina, for an indefinite period, is due to the fact that with the current conditions of the local industry, aggravated by the COVID-19 pandemic, the viability of a sustainable project is not visualized.
The rest of the statement states the following:
LATAM Airlines Group announces today the cessation of its operations, both passengers and cargo, for an indefinite period.
LATAM will stop flying to and from 12 domestic destinations while the four international destinations of the subsidiary to the United States, Brazil, Chile and Peru will continue to be operated by the other subsidiaries of the group, once the restrictions dictated by the authorities within the framework of the health emergency are lifted. in addition, The international cargo routes of the Argentine subsidiary will be served by the other subsidiaries of the LATAM group.
It should be noted that LATAM Argentina is the only subsidiary of the group that will cease its operations.
About LATAM Argentina
During 15 years, LATAM Airlines Argentina worked for the development and connectivity of the country, transporting in the last year 3.1 million passengers and transporting a weekly average of 270 tons of export products -mainly berries, fresh meats and pharmaceutical products, and 290 tons of imported products – mainly auto parts, industrial machinery and pharmaceutical products.
At the same time, made a historic commitment during the COVID-19 pandemic, being -since 19 last march- the repatriation of passengers its only active operation. Commitment that, through joint work with the Argentine Foreign Ministry and local consulates, contributed to the return of 16.015 Argentines to the country, as well as with the graduation of more than 6.000 foreigners to their original destinations.
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The company has had losses of more than 280 million dollars in two years of operation in Argentina, while Aerolíneas has had more than 500 million dollars of losses and is awaiting a disbursement of 900 millions to not stop. I don't know how they can help her with all the debt problems that Argentina has at the moment..
It was not so much because of the covid, the Argentine government wants a monopoly for Aerolíneas Argentina and for the other airlines to go bankrupt .
They were not allowed a salary reduction 50% and without income while the state airline receives subsidies this year of almost 1000 millions .
Low cost companies also have problems operating from the pigeon loft and Jetsmart does not allow you to fly with your own planes from the airport and you can add many more things.