Creditors try to remove Brazilian boss Grupo Itapemirim

Brazil’s ITA runs out of cash and suspends flight operations

19.12.2021 – 22:39 UTC

The Brazilian Civil Aviation Authority (Agência Nacional de Aviação Civil – ANAC) suspended ITA Transportes Aéreos’ Air Operator Certificate (AOC) after the airline abruptly ceased flight operations on Friday, December 17.

Brazilian ground transport specialist Grupo Itapemirim, owner of ITA, said in a statement that he was working closely with ANAC to alleviate the sudden suspension which he said was prompted by an urgent need for “restructuring internal”. He gave no indication as to when the ITA could resume service.

ITA serves 15 cities across Brazil using a fleet of five leased A320-200s. However, since launching in June, it has struggled to gain financial traction with various reports of late and delayed payments to creditors and staff in early summer.

According to Panrotas, before the grounding, the CEO of the airline, Adalberto Bogsan, said he expected BRL 200 million reais ($ 35.1 million) from an unspecified Brazilian bank, just for talks with the founder, without any funds being released.

Grupo Itapemirim has already had to face legal challenges …

Comments are closed.