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  <title><![CDATA[Uruguayan government takes over bankrupt airline from private investors]]></title>
  <link>http://en.mercopress.com/</link>
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  <description><![CDATA[The Uruguayan government has reassumed control of Pluna, the nation's flag carrier after the airline’s controlling shareholder Leadgate announced that it will withdrawal from the ownership structure of the company.]]></description>
  <language>en</language>
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    <title><![CDATA[Uruguayan government takes over bankrupt airline from private investors]]></title>
    <link>http://en.mercopress.com/</link>
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    <item>
      <title><![CDATA[ChrisR]]></title>
      <link>http://en.mercopress.com/2012/06/20/uruguayan-government-takes-over-bankrupt-airline-from-private-investors#comment137945</link>
      <guid>http://en.mercopress.com/2012/06/20/uruguayan-government-takes-over-bankrupt-airline-from-private-investors#comment137945</guid>
      <description><![CDATA[There is another solution.

Government figures state Pluna's debts as being US$ 301.1 million, while the assets are stated as US$ 290 million.

If the asset price can be realised (and without knowing the facts that is a BIG if) then the US4 11.1 million could be written off.

Who, in their right mind wants to take on this operation, forced to use ANCAP fuel which is 10% more epensive than the regional mean and a WHOPPING 40% more expensive than the Argentine Government charge their carrier who are in direct competion with Pluna for regional traffic?

And WHY, with a population of just 4.5 million, many of who will never fly in an airplane in their life, does Uruguay NEED a flag carrier?

The minister was surprised when the shit hit the fan last week.  Been keeping his eye on the ball then?

Before ANY USD 35 M underwrite is given to any organisation, the Governmant should address these concerns first.]]></description>
      <pubDate>Wed, 20 Jun 2012 19:43:39 GMT</pubDate>
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    <item>
      <title><![CDATA[Self Determination]]></title>
      <link>http://en.mercopress.com/2012/06/20/uruguayan-government-takes-over-bankrupt-airline-from-private-investors#comment138321</link>
      <guid>http://en.mercopress.com/2012/06/20/uruguayan-government-takes-over-bankrupt-airline-from-private-investors#comment138321</guid>
      <description><![CDATA[Time for the FIG to lease one of the planes  ,in return for daily flights,if required, to Montevideo .It makes economic sense for both countries.]]></description>
      <pubDate>Thu, 21 Jun 2012 16:45:25 GMT</pubDate>
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