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Montevideo, October 3rd 2023 - 14:34 UTC



US company owned by Brazilian citizen buys over Amaszonas airline

Wednesday, August 11th 2021 - 07:54 UTC
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De Urioste welcomed the new investors to keep Amaszonas operational through the pandemic De Urioste welcomed the new investors to keep Amaszonas operational through the pandemic

Nella Airlines Inc., a US company chiefly owned by a Brazilian citizen, has acquired 100% control over the Bolivian airline Amaszonas, it was announced Tuesday. All company workers are to keep their jobs and have nothing to worry about, according to Amaszonas executive president, Sergio de Urioste.

“In the end, the common good is what made us make this decision to transfer all of our shares to a North American company Nella Airlines Inc., which is a holding company in the United States, its main owner being a Brazilian citizen,” he said.

“Aviation in the world is in crisis and we have not been left out of the crisis. We have looked for different ways to get out of the crisis, but it has been a very difficult and long task,” de Urioste added.

“Just as the pandemic brings a crisis, it also brings opportunities to companies that are ready to make large investments,” he went on.

De Urioste also pointed out the new owners were to take care of the airline's liabilities, but other than that, it will be business as usual for Amaszonas workers.

Amaszonas Vice President Luis Vera also announced the six-aircraft fleet will remain operational in Bolivia and representatives of the new ownership are to arrive Thursday.

De Urioste also insisted all tickets already sold are to ne honored and asked passengers not to lose confidence in the airline, which continues to operate and will grow “again with the economic support that the new investor has.” He also explained that the initial and main task “will be financial restoration by adjusting debts and gradually recovering the company's operations.”

The COVID-19 pandemic has caused “a disastrous effect on the global economy” and that it has caused “the greatest crisis in the history of commercial aviation,” De Urioste highlighted.

Several airlines in the world “have had to close operations” and others were forced to “make drastic decisions” in order to stay in the market, he also said.

According to the International Air Transport Association (IATA), the return to passenger flows that were registered in the stage prior to the pandemic will be reached “in a couple of years,” explains the statement from the Bolivian airline. However, reference is also made to “a more accelerated recovery trend in the commercial air transport industry” mainly due to the advancement of the vaccination process in Bolivia.


Categories: Investments, Brazil.

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