ACES Low | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.06.24

Airborne-NextGen-04.30.24

Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

Thu, Aug 21, 2003

ACES Low

Colombia's Pride Grounded

Aerolineas Centrales de Colombia (ACES) is on the ground in Colombia, unable to pay the piper. The company's owners (shareholders) are thinking about selling it off, piece by piece, if necessary.

While an airline that is $30 million in debt may sound like less than a sneeze in the USA, where the taxpayers would be expected to bail it out, that's real money in Colombia.

To make matters worse, its biggest shareholder, the coffeegrowers federation, had a banner year -- and so did nearly everyone else who raises and harvests coffee. The result: low coffee prices, high harvest expenses. The Federacion Nacional won't be able to prop up the airline.

Last year, ACES and Colombia's once-number-one Avianca merged. In March, Avianca, $269 million in debt in the US, took its US subsidiary, Avianca Inc., into Chapter 11. At that time, ACES returned two of its Boeings to the leasing company.

Expect Lan Chile to make a move for the routes...

FMI: www.lanchile.com

Advertisement

More News

ANN's Daily Aero-Term (05.07.24): Hazardous Weather Information

Hazardous Weather Information Summary of significant meteorological information (SIGMET/WS), convective significant meteorological information (convective SIGMET/WST), urgent pilot>[...]

ANN's Daily Aero-Linx (05.07.24)

Aero Linx: The T-6 Racing Association The T-6 Racing Association is all about T-6‘s and racing. Our mission is to bring great racing to our fans in Reno and other venues wher>[...]

Airborne 05.01.24: WACO Kitchen, FAA Reauthorization, World Skydiving Day

Also: Electra Aero, AMO-CBP v Smugglers, Naval King Airs, Boeing Deal To the surprise of everyone involved, Waco Kitchen shut down both airport operations with little warning and h>[...]

Airborne Affordable Flyers 05.02.24: Bobby Bailey, SPRG Report Cards, Skydive!

Also: WACO Kitchen Bails, French SportPlane Mfr to FL, Dynon-Advance Flight Systems, Innovation Preview Bobby Bailey, a bit of a fixture in sport aviation circles for his work with>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC