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In an interview with Estadão, the President of Latin America, Jerome Cadier, highlighted the problems caused by the decision of Avianca Brasil to post debt negotiations with companies of leasing.
According to the judge's decision. Tiago Limongi, of the SP Recovery and Bankruptcy Court, says that the new Avianca deadline for the submission of a commercial payment plan will extend until April. At least 40% of the company's fleet is in danger.
For Jerome Cadier, this maneuver "will increase the rental of aircraft for all companies in Brazil".
Lack of respect for the Cape Town Treaty with the backing of justice, which hampers the stability of negotiations between foreign companies
"For me, it is not the case. Not so much to be Avianca or another company.The problem is the lack of respect for a convention that Brazil has agreed to submit.And what happens when there is such disrespect? "The risk and regulatory insecurity in the country are increasing a lot and we are in a rational market.If there is insecurity, prices go up and they go up for everyone. All aircraft owners will increase the price of this rental.They will argue that it is impossible to return to Brazil, that the country does not respect the conventions " said Jerome about legal uncertainty due to this decision.
According to Jerome, LATAM pays the leasing of their aircraft are up to date and, to date, the creditors have not threatened to see their value increase by mutual agreement. Despite this, he suspects that if this happens, it could be left to all companies.
See the full interview on: cultura.estadao.com.br/blogs/direto-da-fonte/decisao-sobre-avianca-traz-inseguranca-diz-presidente-da-latam/ [19659008] (function (d, s, id)
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