Sol Líneas Aéreas (Rosario Islas Malvinas) could be back in the air by the end of the current quarter as talks with Bolivian suitor Amaszonas (AZN, La Paz El Alto) progress.
La Nacion newspaper reports Sol shareholders, staff, and the Argentine government signed a Memorandum of Understanding (MOU) last week concerning the airline's future.
The move paves the way for the signing of a final binding agreement with Amaszonas in the next thirty days following which Sol is expected to resume commercial operations. The Bolivians are reportedly looking to clean house insofar as accounting, administration and aircraft maintenance are concerned. There are also reports the Argentine government will assist through the introduction of subsidies for certain domestic routes.
Should the sale go through, it would give Amaszonas unprecedented access to four South American markets. At present, aside from its Bolivian parent unit, the airline also owns BQB Líneas Aéreas (Punta del Este) in Uruguay and Amaszonas Paraguay (Asunción) in Paraguay (a joint venture with former Sol shareholder, Air Nostrum (YW, Valencia Manises)).
