Liquidators plan to sell the last of AeroPeru's assets before the end of this year. The creditors committee for the defunct flag carrier has directed the liquidator to proceed, closing the book on an airline whose bankruptcy proved as stormy as its operations.
"It was mismanaged almost from day one," says Latin American aviation specialist Bob Booth. Majority owned by Aeromexico and Delta Airlines, AeroPeru stopped flying in 1999, opening Peru's skies to launches Lan Peru and Taca Peru.
AeroPeru's past four years in bankruptcy have seen a failed rescue attempt, minority shareholder claims and charges against its former Mexican owners.
Like many issues involving AeroPeru, the route awards were also controversial. TACA Peru has only had interim authority since 1999. A move towards permanent authority may be closer following a court ruling over the refusal of the authorities to address the issue.
Source: Airline Business
