The severe reduction of the air demand because of the coronavirus (Covid-19) it will bankruptcy risk to some airlines, experts said. The companies will face problems that would lead them to request a bankruptcy if the federal government does not implement fiscal support, said Rogelio Rodríguez, an expert on aeronautical issues.
The most exposed is Interjet, well facing greater financial problemshe commented. At the end of 2019, I had a 549.2 million pesos debt for VAT before the SAT and last February it faced a liability of 587 million pesos per jet fuel.
Coronavirus would put airlines at risk. Photo: Reforma
Aeroméxico and Volaris are exposed for their international routes, although the impact will be less due to the foreign participation that both have, while VivaAerobus would be the least affected, because they have domestic flights and belong to the IAMSA Group, whose main division is buses.
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Juan Antonio José, an aviation consultant, added that those without financial strength will face greater bankruptcy risk.
Alejandro Cobián and Edmundo Olivares, partners of the firm Flores, Olivares, Cobián Abogados & Consultores, stressed that all airlines will suffer from less liquidity and their financial commitments will not cease.