Avianca Brazil files for bankruptcy protection

Photo: © Rafael Luiz Canossa

Avianca Brazil (officially called Oceanair Linhas Aereas Ltda.), the country’s fourth largest airline, has filed for bankruptcy protection on Tuesday.

The airline cited recent losses and disputes with the lessors of its aircraft as reasons for this move. It confirmed that these issues put its operations on risk.

Avianca Brazil is a subsidiary of Synergy Group, the company that also owns Avianca Holdings, which holds Colombian Avianca, along with several Avianca-branded central-American sister airlines. It currently operates 53 airplanes, including Airbus A320, A320neo and A330. The airline received its first A320neo in October 2016 and plans to take delivery of ten Airbus A350-900, starting in 2020.

Read more: Avianca Brazil was ordered to return 11 aircraft to lessor Aircastle