Government looks to sell Tame planes in parts

He indicated that the airline is currently in a 60-day pre-liquidation process

Gabriel Martínez, Minister of Transport and Public Works, reported that Tame is in a pre-liquidation process that lasts 60 days and that ends in August. In this context, he indicated that he is dialoguing with companies to sell the assets of the airline, whose aircraft are most likely to be sold in parts and not as a unit.

The official indicated that the company had been losing money for nine years and although he mentioned that the regime did everything possible to maintain the airline, reducing losses by almost 30% in 2019 than it was in 2018, this was not enough since with the pandemic there was 95% in lost sales

“It puts us in a difficult situation to be able to get ahead if there is no liquidity.”

Martínez explained that Tame had an inefficient fleet with three types of aircraft, when one airlines should only have one, which meant that for each ship there is a crew, in addition to having unprofitable routes such as Manaus

“On flights with 5 passengers, all this has caused an excess of personnel and has added to the deterioration of finances over time, despite the reduction of personnel, the elimination of unprofitable frequencies, the optimization of its fleet.”

He denied the possibility that the Government could continue to finance the company, as other countries have done, exemplifying with Luftansa that it has requested assistance from Germany.

“The problem is that the government is not capable of providing or generating liquidity to continue operating, and that forced a liquidation.”

Despite this, he said, that having 60 days the regime can work on some options for the sale of assets, such as aircraft in parts, this without the pressure of the liquidation percé.

Source: Radio Sucesos

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