LATAM Airlines Argentina is ceasing its passenger and cargo operations for an indefinite period due to the COVID-19 induced airline market collapse, the LATAM Group says.
Highlighting that the current market conditions have left the “sustainability of the project unviable, LATAM Airlines Group underscores that its other affiliates continue to operate to/from Argentina, connecting passengers and cargo with destinations throughout South America and the world.
The move comes after the Latin American airline group and its affiliates in Chile, Peru, Colombia, Ecuador and the US filed for US Chapter 11 bankruptcy protection in late-May, excluding its affiliates in Argentina, Brazil and Paraguay.
The LATAM group noted that aside from the market collapse at the hands of the coronavirus, it is also the “difficulty of building structural agreements with local industry actors, which has made it impossible to foresee a viable and sustainable long-term project.”
“This is regrettable but inevitable news. Today, LATAM must focus on transforming the group to adapt to post-COVID-19 aviation,” says Roberto Alvo, CEO of LATAM Airlines Group. “Argentina has always been a fundamental country for the group and will remain so, with LATAM’s other affiliates continuing to connect passengers from Argentina with Latin America and the world.”
LATAM Airlines Argentina will cease flights to/from 12 domestic destinations while international destinations in the US, Brazil, Chile and Peru will continue to be served by other LATAM affiliates, once COVID-19-related travel restrictions are lifted by the authorities. Likewise, international cargo routes will continue to be served by the other group affiliates. LATAM Airlines Argentina is the only group affiliate that will cease operations.
Operating for 15 years, LATAM Airlines Argentina has contributed to the development and connectivity of Argentina, transporting 3.1 million passengers last year and each week an average of 270 tonnes of export goods – including berries, fresh meats and pharmaceuticals – and 290 tonnes of imported goods (mainly auto parts, industrial machinery and pharmaceuticals).