Another Peruvian carrier looks set to fail with LanPeru suspending international services over a legal row between shareholders LanChile and Peruval.
LanPeru president, Lorenzo Sousa, who is also head of 30% shareholder Peruval, resigned during a legal squabble with LanChile following his refusal last month to renew a wet-lease agreement under which LanChile has been operating a Boeing 767-300 between Lima and Miami/New York on LanPeru's behalf.
Sousa claims 49% shareholder LanChile did not honour the agreement and owes LanPeru $10 million for cargo carried on the US route. He had sought to restructure the deal, and the wet-lease, on commercial terms, and won a court injunction leading to the appointment of a provisional administrator for the airline. LanChile has appealed and warns that LanPeru's domestic operations "could be discontinued".
LanPeru operates domestically using two Boeing 737-200s leased from Falcon Aviation, an associate of LanChile. LanChile may, meanwhile, try to continue operating to the USA from Chile via Peru, claiming it has fifth freedom rights to Los Angeles and New York.
The Chilean carrier says it has invested $400,000 in LanPeru, which it says owes it $6.8 million. It says it will lose $5.5 million in non-operating losses if LanPeru is dissolved, though it still has ambitions in the region, hinting that it is committed to moves in Ecuador, Bolivia, Uruguay and Argentina.
Source: Flight International
