A union campaign that has been under way since February to oust the president and controlling shareholder of Lloyd Aereo Boliviano (LAB) has succeeded. After a series of strikes and protests led by the airline’s pilots, Ernesto Asbun has agreed to step down and sell his 50% stake in an effort to end LAB’s crisis. The airline still faces debts of $160 million and the threat of aircraft seizures by its lessors.
Source: Airline Business