EconomyFinancialSupertransporte controls Interjet and orders insolvency proceedings

Supertransporte controls Interjet and orders insolvency proceedings

The measure occurs because the airline presents a critical accounting, financial, legal and administrative situation.

The Superintendency of Transportation imposed a measure of submission to control over ABC Aerolíneas SA de CV Sucursal Colombia (Interjet), and summoned it to the process of business insolvency before the Superintendency of Companies.

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The measure occurs because the airline presents a critical accounting, financial, legal and administrative situation. Situation affecting the provision of the public air transport service.

It is the first airline to be summoned to insolvency proceedings by the inspection, surveillance and control authority in the framework of the pandemic caused by COVID-19.

“This entity (Interjet) demonstrated that the accounting does not reflect the real situation of the company and that the foreign company abandoned the branch in Colombia, among other serious situations that warrant the beginning of a reorganization process, seeking the recovery and conservation of the company as a source of employment, as well as the normalization of its commercial and credit relations ”, said the Superintendent of Transportation, Camilo Pabón Almanza.

Additionally, the Supertransporte sanctioned Interjet for the second time for not complying with the measure imposed in November 2020, in which it was ordered to issue a press release indicating to users the channels and hours to attend PQR’s, clarifying whether It is in the process of canceling the operating permit before the aeronautical authority, and implementing a user service plan, among other provisions.

On January 8, 2021, a first sanction for $ 219 million had already been imposed, and a new term of 15 business days was granted to prove compliance with administrative orders. However, this did not happen and the Super Carrier proceeded to impose a new fine.

Against the decision to submit to control and against the fine, the appeal for reconsideration comes before the Superintendent of Transportation.

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Section 15 ensures that it will soon be able to seize and auction the company's assets to cover salary debts to more than 5,000 workers.

Volaris and Aeroméxico, which won the most slots after the withdrawal of Interjet

Interjet lost more than 50,000 take-off and landing times since 2019, while its main competitors have collectively gained nearly 25,000.

Interjet's restructuring: overdue and with a long way to go

The airline, which expected to fly again in July, has not yet formally entered bankruptcy and has yet to negotiate debts with its creditors.

Interjet seeks agreements with creditors within a year

Argoss Partners, the firm in charge of negotiating with creditors, trusts that a judge will approve as soon as possible to start the legal process.

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