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At the first conciliation hearing of the year as part of the judicial restructuring process of Avianca Brasil, scheduled for Monday, the company will have to negotiate with aircraft leasing companies that plan to take back their planes.
One of them, Aircastle, wants to save 10 jet planes, which represents more than 20% of Avianca Brazil's current fleet, according to Reuters.
Avianca executives believe internally that an agreement has not yet been reached at this meeting, but we are confident that they will receive court protection to spend the sales season without losing their aircraft.
The optimism stems from the fact that, in obtaining the judicial recovery application in December, Avianca also received a favorable court decision extending the term of protection against requests for the resumption of aircraft with the possibility of renewal [19459009TheproblemnowistoensurethatticketsalesarenotaffectedbynegativenewstherebycompromisingfuturerevenuesInDecemberthecompanysaiditwaslikelytolose77000pbadengerswithticketspurchased
To attract customers, Avianca Brasil launched a set of aggressive promotions in December.
The strategy is consistent with the aggressive business profile of the dominant Efromovich family, which has also worked in other industries, such as shipyards, in the past, where they already know the experience of bankruptcy.
When the economic crisis overcame ticket demand from 2014, the main competitors Gol, Latam and Azul reduced their fleet and flight frequencies, but Avianca Brasil turned around.
The fourth largest airline operating in the domestic market, it has chosen to expand in terms of network, fleet and employees, from 5.35% to 12.9% of the market share between 2012 and 2017, according to the ANAC (National Civil Security Agency). .
In 2017, the sector began to show signs of improvement and Avianca Brazil took another bold step in inaugurating international flights. The company has grown from 220 to 290 daily flights between 2016 and 2018. It has grown from 23 to 29 flights in number of destinations.
During the period of expansion, Avianca Brazil is positioned with a more "premium" service than that of the competition, offering differentials that weigh on costs.
In addition to the expansion of the fleet, which led to the application for bankruptcy, the company was one of the pioneers of Latin America to install the Internet on board and from other types of entertainment.
Against the trend of the big competitors, who were segmenting fares, with the collection of meals on board, he maintained a sophisticated profile, without giving up the hot snack for all fare clbades.
During the controversial discussion on baggage allowance on domestic flights, published in April 2017, Avianca Brasil was the last to take charge of sending luggage, only in September.
Today, the company's debts to creditors registered for judicial recovery exceed R $ 493 million.
The ability to manage the debt reached its limit when aircraft leasing companies seized the court to demand the return of jet aircraft.
The company does not attribute the problems posed by a possible error in the strategy of continuing expansion with respect to the market. Sought baderts that the judicial recovery application was a "protective measure".
In a note, it is stated that "after a very bad year 2018, the company and its competitors sought alternatives to capitalize." At first, she decided to renegotiate with the donors. "
According to Avianca Brasil, "it has nothing to do with the financial health of the company".
In other words, the company's management felt that the search for judicial recovery would be a way to eliminate debts and block government attempts. airplanes. But the measure is risky because, on the other hand, it has an impact on the image of society and can scare the consumer.
Avianca Brasil is one of the companies that are part of the entanglement of the Germán and José Efromovich brothers gathered around the Synergy group, which operates in the aviation, oil and gas markets. and gas.
The group owns the Mauá and Eisa shipyards, also in judicial recovery.
Germán was summoned in 2016 following the accusation of the former president of Transpetro, Sérgio Machado, who said that the businessman had deposited 28 million dollars on an account in Switzerland. There has been no official complaint.
José stays at Avianca Brasil. In December, insurers Chubb and Factor commenced legal action to seek a review of judicial recovery. According to them, the company's corporate structure was created to "protect" equity. Avianca Brasil does not comment.
According to the trial data, José holds 99.53% of the shares of the company Spsyn Participações, which in turn holds 80% of the shares of AVB Holding, which owns 100% of the shares of Avianca Brasil.
The airline was born in 1998 under the name of Ocean Air and was renamed Avianca Brasil in 2010. On this occasion, she signed a name use license agreement with Avianca Holdings, brother Germán. . Both are formally separated.
When Avianca Brasil 's request for judicial reorganization was submitted this month, the namesake company Avianca Holdings is eager to make a statement in Colombia claiming that it does not have the same effect. had no connection with Brazilian society.
In practice, the partners are the same. Through the societal engineering of the Efromovich brothers, Synergy controls Avianca Holdings.
Since December, none of the main leaders of the company has come forward publicly. The only interviewer, however, was Germán, chairman of Avianca Holdings' board of directors.
In a Colombian TV show, the businessman complained about the outbreak of fuels at a time of low demand, as happened in Brazil, and mentioned a possible investment by United United as an alternative to the rescue of Avianca Brazil. The society denies
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