Sol Líneas Aéreas has confirmed it has stopped operations after the expiration of a March 31 deadline for it to find renewed investment.
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After a meeting with the Argentine Ministry of Labour, Employment and Social Security, the carrier has taken the decision to put a definitive end to the operations because of the non-viability of its business.
The airline had relied on a Capacity Purchase Agreement (CPA) with Aerolineas Argentinas, however the agreement was ended in January by the newly elected Argentinian president, Maurizio Macri.
Sol said that “the decision was taken despite multiple attempts to revive the business and maintain jobs, but these efforts were not fruitful”.
The last talks with Bolivia’s Amaszomal collapsed last week, forcing Sol to liquidate the firm. Because of that, preparations have been made to liquidate the 190 remaining employees.
The airline was founded in 2006 by Transatlántica and operated a fleet of two Saab 340As and two Saab 340Bs on scheduled flights throughout Argentina.
The airline then managed to attract Air Nostrum as a strategic investor and managed to convince the Spanish carrier to re-equip Sol with CRJ-200s. Air Nostrum withdrew following the termination of the CPA in January.