Colombia: SuperTransporte issues administrative action against Ultra Air
The Superintendence of Transportation, through Resolution N. 948, informed this Thursday that it issued an admirative measure to Ultra Air due to the fact that the airline presents low liquidity, which hinders the commitment with short-term obligations, generating a risk of default with its creditors.
It also indicated that “the contractual situation related to the aircraft available for the provision of the service reflects a possible vulnerability to the operational capacity that allows it to comply with its corporate purpose, as well as with its obligations, mainly those related to suppliers and advance ticket sales”.
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Among the administrative measures to be complied with by the airline are:
- Sociedad Ultra Air S.A.S, shall implement a work plan detailing a list disaggregated by routes, which shall include the schedule of commercial flights, for each of the seven (7) days of the week, where the aircraft and crew personnel for each of the frequencies are identified.
- Must report to the Superintendence of Transportation every Monday before 6:00 pm, for a term of three (3) months, on the decision making of the management bodies when there is an economic and operational risk that affects the provision of the service.
- It shall inform the Concessions and Infrastructure Investigations Directorate of the Superintendence of Transportation of the negotiations it carries out for its capitalization.
- Must implement the necessary preventive or corrective actions related to the passenger handling plan in the event of a possible termination and/or suspension of operations.
- Must inform the Superintendence of Transportation, the mechanism for the preservation of liabilities for the advance sale of tickets in order to ensure effective compliance with the passenger management plan, in the event of a possible cessation and/or suspension of operations.
“Failure to comply with these orders may result in the imposition of successive fines between one and five hundred legal monthly minimum wages in force,” said the Superintendence of Transportation.
The objective of this operational plan, according to the Superintendent of Transportation, Ayda Lucy Ospina, will be to prove that the airline “is guaranteeing compliance with the flights it has committed to carry out at the time it offers the service”.
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