Flybondi has cut about 75% of its flights as the Argentine low-cost carrier confronts a severe operational and financial crisis only months after a promised $1.7 billion turnaround. The sharp reduction follows a period of repeated disruption linked to an ageing fleet and comes as the airline struggles to stabilise its network across Argentina and Brazil.
The carrier was placed under new control last year when Leonardo Scatturice’s Miami-based holding company, COC Global Enterprise, pledged the investment to overhaul the fleet and restore performance. Bloomberg reported that Flybondi is now viewed as being close to collapse despite that plan, which was unveiled about eight months ago.
The deterioration has already drawn regulatory attention in Brazil. ANAC has restricted Flybondi ticket sales on some routes after the airline cancelled 79% of its Brazil flights in July and was barred from expanding there. Secondary reporting put Flybondi’s July operation at 153 flights, down from 2,105 a year earlier, highlighting the scale of the pullback.