Bolivian Amaszonas airline owners sell all their shares to Nella Airlines

RIO DE JANEIRO, BRAZIL – “We have decided to sell the company to a new international group that has found an opportunity to integrate Amaszonas into its business growth plan in Latin America,” the company’s CEO Sergio de Urioste said in a statement.

De Urioste stated that the initial and main task “will be financial restructuring, adjusting debts and gradually resuming the company’s operations.”

Although initially the executive did not provide details on the company interested in the purchase, it was later announced that a Brazilian company, Nella Airlines, will acquire 100% of the company’s shares, according to local media reports.

Amaszonas’ top executive said that the Covid-19 pandemic has had “a disastrous impact on the global economy” and has caused “the biggest crisis in the history of commercial aviation.”

In his statement he noted that several airlines around the world “have had to close operations” and that most have had to “make drastic decisions” in order to continue operating.

According to the International Air Transport Association (IATA), the return to pre-pandemic passenger flows will be achieved “in a couple of years,” explains the Bolivian airline’s statement.

However, reference is also made to “a more accelerated recovery trend in the commercial air transport industry” mainly due to the progress of the vaccination process in Bolivia.

“These facts lead to a great opportunity to develop and implement a transformation stage in Amaszonas,” he noted. De Urioste said that the new owners “will guarantee” the company’s stability as well as the resumption of its operations.