The new chief executive of state owned Aerolíneas Argentinas (AR, Buenos Aires Jorge Newbery) has outlined her restructuring plan for the loss making national carrier. Isela Constantini's plan foresees Aerolines Argentinas returning to profitability within four years.
As part of the plan, Aerolíneas Argentinas (AR, Buenos Aires Jorge Newbery) and Austral (Buenos Aires Jorge Newbery) are expected to be merged, 1500 jobs cut through voluntary retirement and the long haul fleet cut through the retirement of seven A340-300s.
As part of the A340 retirement plans, Aerolineas is also expected to cut its long haul routes to New York JFK, Barcelona El Prat and Rome Fiumicino. In addition to these three destinations, Aerolineas also serves Cancún, Havana International, Miami International, Punta Cana as well as Madrid Barajas in North America, the Caribbean and Europe.
