Friday , January 27 2023

Turbulence in Flibond: Julian Cook ceases to be director | Opening jobs



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Julian Cook He went aside. He will no longer be Executive Director of Flibondi, after two and a half years in charge of a low-cost airline. According to the company, he will become the vice-chairman of the board. It will be temporarily replaced by Director General, Andres Vacarez, until a new Executive Director is appointed.

In an official statement, Flibondi explained that Cook's visible face of the airline from its founding – aims to "focus on a new business from a global perspective and the current business of the company at the regional level." He also pointed out that he will monitor the future transition of the Executive Director.

However, three different sources of the aeronautical industry were confirmed – independently of each other The Chronicler that the company is looking for the new number one. Also, there will be changes in the composition of the shares, the arrival of new investors who contribute to the capital and eventual exit of any of the existing ones. Shareholders criticized Cooka for lack of reaction as a pilot trying to get out of the storm Argentina entered this year. Background Cartesian Capital, from New York, will be most wanted to continue contributing to money, one of the consulted sources said. Among the shareholders of Flibondi are also Japanese Iamasa i Richard Gui Gluzman, former CEO Pegasus, a fund he founded Mario Kuintana.

Representatives of Flibondi denied the departure of Cartesians. "The main shareholders are firm and long-term dedicated to the company and investments in the country." In fact, the new position of Julian Cooka as vice-chairman of the board is aimed at the global strategy of the company and a new job in the company. the region, in line with the opening of international routes and 284 new ones that have given us, "they stressed.

But, Two months ago, due to pressure from shareholders, the company has adapted its business plan to a new reality. "The company started in January, with dollars of $ 20 and predicted inflation of 16%, and the situation changed the equation and although it is a long, well-funded bet, investors (mostly Americans and Switzerland), They care because they see it breaking up she goes, every time, more ", is considered a connoisseur of these plans. The air, which operates with five planes, would stop the landing of the sixth. Another thing that would suffer heavy cuts would be advertising.

Today, Flibondi has 550 employees. In 10 months he managed to operate 21 times, and in January, when he stood for a year, that would reach a million passengers, the company said. This week began operating international flights, with Asuncion and Punta del Este as the first two destinations.

In addition to the change that devaluation has meant for your business plan, One of the factors that has improved turbulence is the emergence of new competitors. In particular, they refer to Norway, who have already started to work in cabotage, but from Aeroparkue and not Palomar, as well as other low costs. And that company and JetSmart (which will start flying in March) and Avian (a subsidiary of Avianca in Argentina), the capital, in dollars today, pays more than a month to pay for expenses than at the beginning of the year, when Flibondi flew.

A sharp start

Since its inception, Flibondi had to overcome several major storms, with numerous cancellations and suspensions of flights for various reasons. In March, just over a month after starting work, it had to do so because of the operational limitations set by Justice at El Palomar Airport, which limited its flights to only three daily flights. Then, during the winter, it also suffered cancellations and delays because they could not work on that terminal in foggy days, a difficulty settled at the end of August, with an ILS repair terminal. In addition, it also canceled flights due to the fact that for a while it remained an aircraft outside the service, in maintenance, after the failure in Puerto Iguazu.

Since its founding, as a low-cost pioneer in the country, large bargaining has been launched, prompted by a decline in prices on domestic flights, in the context in which a strong devaluation took the airline into a heavy equity to bear

This year, the National Civil Aviation Administration (ANAC) imposed two fines of commercial nature, slightly less than $ 1.4 million, for advertising rates below the references and the sale of tickets without a passenger fee, which implied perforation, indirectly allowed ribbons.

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