Loss-making Aces Colombia is returning its eight ATR 42s to lessors and surrendering many regional routes.
The move will see its domestic route network reduce significantly to comprise only scheduled flights linking Bogotá, Cali, Cartagena and Medellín. The airline, which is part of the Summa alliance with Avianca and SAM, is retaining its five Airbus A320s to continue operating international services from Bogotá and Medellín to Fort Lauderdale, Lima and Miami.
Aces posted losses of $9.6 million during the first quarter and is facing substantial employee cuts. Colombian shareholder National Coffee Federation (FNC) recently said that it may sell its 23.5% stake in the airline. Shareholders have indicated that if the FNC pulls out, some or all of the other Colombian coffee agencies - which hold a combined 49.19% slice in the carrier - might follow suit. Local analysts believe that such a move would spell the end of Aces within two years.
Medellín-based regional Aerolínea de Antioquia is seeking to gain from Aces' misfortune, and has requested authorisation from Colombia's civil aviation authorities to absorb six routes that it is suspending. The Colombian air force-operated airline, Satena, is also jockeying to inherit the routes that Aces Colombia is surrendering in the Antioquia region.
Source: Flight International
