Aerolíneas Argentinas (AR, Buenos Aires Jorge Newbery) has ruled out requesting further government funding despite rising fuel costs, following two consecutive years of positive financial results, as Argentina's government continues to pursue the carrier's privatisation.

Speaking to Reuters on the sidelines of the ALTA Airline Leaders Forum on October 20, chief executive Fabián Lombardo said the state-owned airline had become financially self-sufficient through workforce reductions, operational efficiencies, and cost controls. He confirmed that the last government transfer to the airline took place in 2024 and that the company did not expect to seek additional funding.

"The company had to keep flying, but without losing money for the state," Lombardo said, adding that fuel was the main source of cost pressure, while other expenses remained under control.

Aerolíneas Argentinas reported a net profit of ARS238 billion pesos (USD155.7 million) in 2025, its second consecutive profitable year since its renationalisation in 2008.

The financial turnaround follows years of government support. According to the airline, it received more than USD8 billion in direct state transfers between 2008 and 2023, during which it recorded average annual operating losses of USD400 million.

Lombardo reiterated that President Javier Milei's administration remained committed to privatising the airline, although any sale would require congressional involvement. He said the management's responsibility was to prepare the company financially and operationally for whatever decision the government ultimately makes.

In parallel, Aerolíneas Argentinas has benefited from the exit of Flybondi (FBZ, Córdoba International) from the market. Lombardo said the airline moved quickly to capture part of the nearly 300,000 seats left available by Flybondi's bankruptcy, increasing its domestic market share to approximately 70%.

The carrier is also pursuing a fleet renewal programme involving six A330-900Ns and fourteen B737 MAX aircraft, including B737-8s and B737-10s, financed through its own resources.

According to ch-aviation fleets data, Aerolíneas Argentinas currently operates 81 aircraft, including ten A330-200s, two B737-700s, fifteen B737-8s, twenty-eight B737-800s, two B737-800(SF)s, and twenty-four E190s.