SHOTLIST:

1. Various from Ezeiza International Airport, Argentina (file)
2. Various of Aeroméxico aircraft
3. Various of Aeroméxico aircraft
4. Various of Avianca aircraft
5. Various of LATAM aircraft
6. Various of LATAM zone at Buenos Aires airport
7. Various of flights canceled in Buenos Aires
8. Various of empty Buenos Aires airport


STORYLINE:

The COVID-19 pandemic hit Latin American airlines, which will take up to three years to fully recover, and urge government aid for their necessary reinvention.

The International Air Transport Association (IATA) estimates that it will take almost three years to recover the rhythm of internal and regional flights in 2019, while for flights to the United States and Europe it would last until 2024.

The region's three largest airlines - Avianca Holdings, Latam Airlines, and Grupo Aeroméxico, with a fleet of more than 500 aircraft - filed for Chapter 11 bankruptcy in the United States in order to reorganize their operations amid of the crisis generated by the coronavirus pandemic ( covid-19).

According to Andrés Conesa, CEO of Aeroméxico, the company will use this process to strengthen its financial position and implement the necessary operational adjustments to face the impact of Covid-19 and create a sustainable platform for the future.

"Our industry faces unprecedented challenges derived from a significant reduction in passenger demand," Conesa said in a statement, while assuring that Aeroméxico is committed to adopting the necessary measures to operate efficiently in this new reality and to be better prepared for a successful future after this pandemic.

The plan that Latam, Avianca and Aeroméxico are going to apply to survive is to substantially reduce their capacity and fly only to very profitable and high-density destinations. Aeroméxico has 119 aircraft in fleet; Latam Airlines has 313 aircraft, and Avianca has a fleet of 158 aircraft.

Avianca revealed weeks ago that the number of risks it faces in getting out of its bankruptcy process. "If we are unable to obtain such financing on favorable terms or not at all, our chances of successfully reorganizing our company may be seriously compromised and the probability that it will be required to liquidate our assets instead may increase," assured the company in a statement.

On the other hand, added that there are no guarantees that his liquidity is sufficient to allow him to fulfill his obligations related to the Chapter 11 procedures, to proceed with the confirmation of a reorganization plan and to successfully exit the process.

Latin American countries, most of which imposed lockdowns in March to contain the novel coronavirus, are struggling to enforce quarantines in the face of rising economic hardships. Many have begun gradually easing confinement measures to revive their economies.