In the midst of rumors of financial problems, the CEO of Cheap Flibondi, Julian Cook, resigned. The manager will become vice president of the company and Andres Vacarezzza, who was the financial director (financial director), was appointed to replace him. This is the second collapse of the controversial company, which has been the news since its inception due to myriad technical problems that led to cancellation and delays in service. The first victim was one of its founders, Richard Gluzman, an old associate of the former deputy chief of staff, Mario Kuintana.
The company was one of the most loved in the open sky policy promoted by the Government, with the largest number of assigned routes, despite the fact that at the time of the first public hearing for the search for the destination they did not even have an airplane. Last March began to fly with a certain regularity in the low cost segment. The inaugural flight to Cordoba lasted only a few minutes until the plane had to land due to technical problems.
The company receives from the Cordovan State a benefit of half of the gross income tax on aviation for a period of two years, while for the next three, the responsibility for payment will increase to 75 percent. The government of Juan Schiaretti paid 4,000 pesos for the only job for every job that Flibondi activated in his province. These are direct and indirect subsidies that, when it comes to Aerolineas Argentinas, the Government condemns as an unfair situation in relation to other works.
Flibond has 550 employees, including pilots, crew, maintenance technicians, mechanics, traffic agents and ramps. Despite tax incentives, the company shows some financial problems ahead of the contracting market (see separately). The speculation about financial problems is based on the departure of the American Cartesian Capital Fund, the basic part of the capital contribution of a low-cost airline. In a statement by Flibondi, the company ensures that the changes are due to the fact that the low price will "focus on new businesses from a more global perspective and in the current business of the company at the regional level."