RIO DE JANEIRO, BRAZIL - An appellate court has ordered the repossession of seven aircraft leased by Oceanair Linhas Aéreas (Avianca Brasil).
The aircraft belong to Airbus Financial Services Limited and were leased since 2011. Since last year, however, according to the petition submitted by Airbus to the courts, the airline has ceased to pay the leases and other contractual burdens.
Avianca's debt, according to Airbus, now exceeds US$40 million (R$160 million). In early September, a court ordered the company to return the aircraft within a period of up to five days.
As this has not occurred . . .