The debt was equivalent to two months of consumption and was generated “by the agonizing recovery of the influx of users” from the pandemic, said the manager. The airline closed 2022 with passenger traffic of just over 388,000 users, far from the more than 800,000 registered in 2019, according to figures from the Federal Civil Aviation Agency (AFAC).
Regarding the reports of a potential investment by the Nella Group, Correa said that since November 30, 2022 there was a visit to Mexico and procedures were initiated to finalize it. By December 13, he assured that a letter of intent and formalization of the sale was signed by January 2023; however, this coincided with the ultimatum that the AICM authorities gave the company to settle their debts, who seized two company hangars through the Navy.
“Nella could be given the opportunity to send her evidence, but there were no conditions, at the end of January and beginning of February the signs changed significantly. We went from opening to achieving a debt payment plan in October and November 2022 , to a payment ultimatum. We stay on that path,” says the manager.
Correa also considers that there was a third challenge, related to the nature of its segment, that of regional aviation. This market – which operates with small aircraft, with a capacity of 40 to 50 people, as was the case with the ATR-42 operated by Aeromar – has around 65% of operations, when in higher density markets it is around 85%. .
In addition, the manager mentions that operating costs are higher. “The costs of operating an aircraft at an airport is the same (sic) for one with 210 seats as one with 70, here there is a cost gap against airlines with smaller aircraft,” he says.
On alleged flight from the owners of the airline, Correa said that Zvi Katz –the main shareholder– “has had his residence abroad for years, it is false to say that it changed with the closure of Aeromar.”
Meanwhile, Correa said that he is in Mexico. “Now we are in another moment and it is in the hands of the legal team to attend to the next steps,” he concluded.