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87-512: Aerolíneas Argentinas , formally Aerolíneas Argentinas S.A. , is the state-owned flag carrier of Argentina , and the country's largest airline. The airline was created in 1949, from the merger of Aeroposta Argentina (AA), Aviación del Litoral Fluvial Argentino (ALFA), Flota Aérea Mercante Argentina (FAMA), and Zonas Oeste y Norte de Aerolíneas Argentinas (ZONDA), and started operations in December 1950. A consortium led by Iberia took control of

174-505: A US$ 741  million debt the company took between 1981 and 1982 for capitalization purposes. Despite the carrier being regarded as overstaffed and bureaucratic , it was debt-free at that time, having an average profitability of US$ 90  million a year; it actually had US$ 719  million in revenues for the year prior to the privatization. The privatization contract, which specified the buyer should pay US$ 260  million in cash and US$ 1,610  million in external debt bonds ,

261-497: A distance of 7,075 miles (11,386 km) between Hatfield and Buenos Aires. On 7 March, she was christened Las Tres Marías by Frondizi's wife Elena Faggionato at Ezeiza Airport . Comet flights to New York City began in May 1959. In the early 1960s, the fleet consisted of four Comet 4s , four Convair 240s, 15 DC-3s, six DC-4s, five DC-6s and six Sandringhams, whereas the ten F-27s ordered in 1957 were still pending delivery. The 1960s saw

348-424: A distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it

435-510: A lighter floor; and the DC-6C convertible, with the two cargo doors and removable passenger seats. The DC-6B, originally powered by Double Wasp engines with Hamilton Standard 43E60 constant-speed reversing propellers, was regarded as the ultimate piston-engine airliner from the standpoint of ruggedness, reliability, economical operation, and handling qualities. Similar to the DC-6A, the military version

522-544: A new DC-6 in 1946–47 were around £210,000–£230,000 and had risen to £310,000 by 1951. By 1960, used prices were around £175,000 per aircraft. Prices for the DC-6A in 1957–58 were £460,000–£480,000. By 1960, used prices were around £296,000. Equivalent prices for the DC-6B in 1958 were around £500,000. Used prices in 1960 were around £227,000. From 1977 to 1990, five yellow-painted Douglas DC-6Bs were used as water bombers in France by

609-679: A participation of 8.5% in both Argentine companies, with the commitment of finding investors for Aerolíneas Argentinas. AMR's 8.5% operation was finally cleared by the United States Department of Justice in early July 1998. By that time, the Argentine government still owned a 5% stake in Aerolíneas Argentinas. Losses had mounted to US$ 927  million since 1992, totaling US$ 150  million only for 1999. The restructuring plan presented by AMR, mainly aimed at reverting these losses,

696-661: A public objective. For that reason, SOEs primarily operate in the domain of infrastructure (e.g., railway companies), strategic goods and services (e.g., postal services, arms manufacturing and procurement), natural resources and energy (e.g., nuclear facilities, alternative energy delivery), politically sensitive business, broadcasting, banking, demerit goods (e.g., alcoholic beverages ), and merit goods (healthcare). SOEs can also help foster industries that are "considered economically desirable and that would otherwise not be developed through private investments". When nascent or 'infant' industries have difficulty getting investments from

783-489: A regular enterprise, state-owned enterprises are typically expected to be less efficient due to political interference, but unlike profit-driven enterprises they are more likely to focus on government objectives. In Eastern Europe and Western Europe , there was a massive nationalization throughout the 20th century, especially after World War II . In the Eastern Bloc , countries adopted very similar policies and models to

870-437: A single state-owned company on 14 May 1949. The state holding was officially rebranded as Aerolíneas Argentinas-Empresa del Estado. The four companies comprising the state holding ceased independent operations on 31 December 1949. Aerolíneas Argentinas started operations on its own on 7 December 1950. In February 1950, almost 10 months prior to the start of operations, five new Convairs were already acquired. As early as 1950,

957-646: Is a combination of light blue and grey colours. Likewise, the previous eurowhite livery is replaced with a combination of the Argentine flag colours plus grey. Subsidiary airline Austral also adopted this new livery, additionally including a red cheatline. According to the Aviation Safety Network database, the last fatal accident at the airline was in 1970. As of June 2023, Aviation Safety Network records 47 accidents or incidents for Aerolíneas Argentinas since it started operations in 1950. The company ranks among

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1044-562: Is a viable argument for SOEs is debated. SOEs are also frequently employed in areas where the government wants to levy user fees , but finds it politically difficult to introduce new taxation. Next, SOEs can be used to improve efficiency of public service delivery or as a step towards (partial) privatization or hybridization. SOEs can also be a means to alleviate fiscal stress, as SOEs may not count towards states' budgets. Compared to government bureaucracy, state owned enterprises might be beneficial because they reduce politicians' influence over

1131-753: Is approximately 70% of total employment. State-owned enterprises are thus a major factor behind Belarus's high employment rate and a source of stable employment. In most OPEC countries, the governments own the oil companies operating on their soil. A notable example is the Saudi Arabian national oil company , Saudi Aramco , which the Saudi government bought in 1988, changing its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines , and owns 70% of SABIC as well as many other companies. China's state-owned enterprises are owned and managed by

1218-542: Is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and enterprises held by regional public bodies are considered state-owned). Next, it is contestable under what circumstances a SOE qualifies as "owned" by a state (SOEs can be fully owned or partially owned; it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as state-owned since governments can also own regular stock , without implying any special interference). Finally,

1305-602: Is highlighted in the predominant local terminology, with SOEs in Canada referred to as a " Crown corporation ", and in New Zealand as a " Crown entity ". The term " government-linked company " (GLC) is sometimes used, for example in Malaysia , to refer to private or public (listed on a stock exchange) corporate entities in which the government acquires a stake using a holding company . The two main definitions of GLCs are dependent on

1392-690: The Douglas Aircraft Company from 1946 to 1958. Originally intended as a military transport near the end of World War II , Douglas reworked it after the war to compete with the Lockheed Constellation in the long-range commercial transport market. Douglas built over 700, and many still fly in cargo, military, and wildfire control roles. The DC-6 was known as the C-118 Liftmaster in United States Air Force service and as

1479-509: The Douglas DC-3 into its fleet, another three mixed-stock companies were in operation at the time: ALFA mainly operated flying boats northwards to the Mesopotamia , FAMA operated overseas services with DC-4s as its mainstay equipment, and ZONDA was mainly concerned with operations in the northwest region. These carriers became unprofitable and President Juan Perón had them amalgamated into

1566-618: The Douglas DC-6 was added to the fleet, and was used to launch a weekly Buenos Aires– Rio de Janeiro – Natal – Dakar – Lisbon – Paris – Frankfurt flight in late 1950. Soon afterwards, Douglas DC-4s joined the fleet and services were inaugurated to Santiago de Chile , Lima , Santa Cruz , and São Paulo . By March 1953, the airline's network was 35,000 miles (56,000 km) long, flown with DC-3s, DC-4s, DC-6s , Convair-Liner 240s , and Short Sandringhams . The company carried 291,988 passengers in 1954, and 327,808 in 1955. On 8 February 1957, it

1653-674: The Ex-Im Bank and Boeing permitted the purchase of a number of Boeing 707-320Bs in a deal worth US$ 37,000,000 (equivalent to $ 347,458,462 in 2023). In November 1969, the carrier entered a pool agreement with Lufthansa covering services between Germany and Argentina. By March 1970, Aerolíneas Argentinas had a fleet of six Boeing 707s that served routes to Europe and the United States, three Caravelles 6Rs and four Comet 4s that flew regional services, and 12 HS-748s that flew domestically, whereas six Boeing 737-200s were on order. During

1740-701: The Midwest Program on Airborne Television Instruction . Many older DC-6s were replaced in airline passenger service from the mid-1950s by the Douglas DC-7 , but the simpler, more economical engines in the DC-6 have meant the type has outlived the DC-7, particularly for cargo operations. DC-6/7s surviving into the jet age were replaced in frontline intercontinental passenger service by the Boeing 707 and Douglas DC-8 . Basic prices of

1827-682: The R6D in United States Navy service before 1962, after which all U.S. Navy variants were also designated as the C-118. The United States Army Air Forces commissioned the DC-6 project as the XC-112 in 1944. The Army Air Forces wanted a lengthened, pressurized version of the DC-4-based C-54 Skymaster transport with more powerful engines. By the time the prototype XC-112A flew on 15 February 1946,

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1914-703: The State-owned Asset Supervision and Administration Commission (SASAC) . China's state-owned enterprises generally own and operate public services, resource extraction or defense. As of 2017 , China has more SOEs than any other country, and the most SOEs among large national companies. China's SOEs perform functions such as: contributing to central and local governments revenues through dividends and taxes, supporting urban employment, keeping key input prices low, channeling capital towards targeted industries and technologies, supporting sub-national redistribution to poorer interior and western provinces, and aiding

2001-669: The Sécurité Civile . They were registered F-ZBAC, F-ZBAD, F-ZBAE, F-ZBAP, and F-ZBBU. Today, most DC-6s are inactive, stored, or preserved in museums. Several DC-6s fly in northern bush operations in Alaska, while several are based in Europe, and a few are still in operation for small carriers in South America. Many airlines and air forces from several countries included the DC-6 in their fleets at some point in time; these are further detailed in

2088-522: The alliance in August 2012, as well as its 18th overall member. The airline 's cargo division, Aerolíneas Argentinas Cargo, joined SkyTeam Cargo in November 2013, becoming the 12th member airline of the alliance. Aerolíneas Argentinas has codeshare agreements with these airlines: As of September 2024, Aerolíneas Argentinas operates the following aircraft: Aerolíneas Argentinas previously operated

2175-556: The 46–21 vote in the Argentine Senate. There were disagreements regarding the value to be paid by Grupo Marsans to the government. Negotiations fell through, and an administrator was appointed by an Argentine court in November that year to oversee the running of the company. A vote by both the lower and the upper houses of the Argentine Congress in support of taking over the company and its subsidiaries took place in December, when

2262-462: The 5% stake it was initially assigned, while 10% belonged to the employees. Furthermore, at this stage the Argentine government resigned to the voting privilege it had in the directory of the airline. Iberia was subsequently obliged by the European Commission to cut its stake in Aerolíneas Argentinas as a condition for receiving state aid. It thence reduced its participation to 20%, transferring

2349-413: The Argentine government and Grupo Marsans in which the latter would decrease its participation in the airline to 35% was announced; in reducing their holding, Marsans would make room for new private investors, as well as for the government of Argentina to increase its stake in the airline from 5 to 20%. Amid accusations from Marsans and following the disclosure of an agreement, the Argentine government took

2436-527: The Atlantic. BCPA DC-6s flew Sydney to Vancouver, and Philippine flew Manila to London and Manila to San Francisco. Pan Am used DC-6Bs to start transatlantic tourist-class flights in 1952. These were the first DC-6Bs that could gross 107,000 lb (49,000 kg), with CB-17 engines rated at 2,500 hp (1,900 kW) on 108/135 octane fuel. Several European airlines followed with transatlantic services. The DC-6B and C subtypes could often fly nonstop from

2523-637: The Brazilian-made Embraer 190 , as well as the Boeing 737-700, -800 and MAX 8 , whereas intercontinental and transoceanic services are flown on the wide-body Airbus A330-200 . The history of the airline began in 1929, when Compagnie Générale Aéropostale (Aéropostale) started airmail operations between Buenos Aires and Asunción using Laté-25 equipment, later expanding its network to cities located in Patagonia . Many French pilots (including aviator and author Antoine de Saint-Exupéry ) flew for

2610-533: The Chamber of Deputies voted 152–84 in favor of the expropriation, and the Senate approved the bill by a 42–20 vote. In September 2011, the airline emerged from the reorganization proceedings it had filed in 2001. In late November 2011, the government announced an austerity plan for the company to reduce the deficit it has been incurring since being taken over from Marsans; the plan included the revision of unprofitable routes,

2697-833: The Minister of Finance II, the Minister in the Prime Minister's Department in charge of the Economic Planning Unit, the Chief Secretary to the Government, Secretary General of Treasury and the heads of each of the GLICs (the Employees Provident Fund, Khazanah Nasional Berhad , Lembaga Tabung Angkatan Tentera (the armed forces pension fund), Lembaga Tabung Haji and Permodalan Nasional Berhad . Khazanah Nasional Berhad provided

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2784-512: The Spanish flag carrier's stake in the Argentine air market. Aerolíneas Argentinas and Austral never merged throughout the private era, and remained as separate companies with the same shareholder. Iberia subsequently boosted its stake in the airline to 85% in April 1994 after a US$ 500,000,000 (equivalent to $ 1,027,840,144 in 2023) cash injection. Out of the remaining 15%, the Argentine government held

2871-1003: The USSR. Governments in Western Europe, both left and right of centre, saw state intervention as necessary to rebuild economies shattered by war. Government control over natural monopolies like industry was the norm. Typical sectors included telephones , electric power , fossil fuels , iron ore , railways , airlines , media , postal services , banks , and water . Many large industrial corporations were also nationalized or created as government corporations, including, among many others: British Steel Corporation , Equinor , and Águas de Portugal . A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises ( liikelaitos ) are governed by separate laws. Even though responsible for their own finances, they cannot be declared bankrupt ;

2958-454: The United States that would come into force in September 2000. The airline had 5,384 employees at March 2000. At this time, the aircraft park consisted of two Airbus A310-300s , four Airbus A340-200s , four Boeing 737-200s, Boeing 737-200 Advanced , one Boeing 737-200C , and nine Boeing 747-200Bs , whereas six Airbus A340-600s were on order. The list of international destinations served at

3045-605: The acquisition of 20 more aircraft of the type, worth US$ 1.8  billion, was announced. In addition to the lease of four used Airbus A330-200s from ILFC —the first of them delivered in September 2013— Aerolíneas Argentinas signed in November a memorandum of understanding with Airbus, aimed at acquiring four more aircraft of the type. In a transaction worth US$ 887  million, the order was firmed up in February 2014. These aircraft will be fitted with GE Aviation CF6-80E1 engines. The first Airbus A330-200 directly purchased from Airbus

3132-579: The airline again. Under his proposal, shares in the airline would be handed over by the state to its workers along with an end in state support for the airline. Unions have expressed opposition to the proposal with one union head promising violence before apologizing. Workers have also gone on strike over the issue. On 21 December 2023, Milei announced a presidential decree to begin the process of privatization and transfer of shares, likely to employees. He would also implement open skies policies including cabotage to improve competitiveness. Aerolíneas Argentinas

3219-471: The airline back under state control in July 2008, after acquiring 99.4% of the stake for an undisclosed price; the remaining 0.6% continued being owned by the company's employees. At this time, the company had 40% of its fleet grounded. The act renationalizing Aerolíneas Argentinas and its subsidiary Austral Líneas Aéreas was passed by the Chamber of Deputies in August 2008, and became law in September 2008 following

3306-525: The airline followed the divestiture of the government shareholding in the national telephone company , which also took place in 1990 during the Carlos Menem presidency's privatization wave, intended to divest the participation of the state in a number of enterprises to reduce the US$ 40 ;billion debt to foreign banks by US$ 7  billion. Aimed at favoring the privatization process, the government absorbed

3393-886: The airline in 1990, and Grupo Marsans acquired the company and its subsidiaries in 2001, following a period of severe financial difficulties that put the airline on the brink of closure. The airline was renationalized in late 2008. It has its headquarters in Buenos Aires . The airline joined the SkyTeam alliance in August 2012; the airline's cargo division became a member of SkyTeam Cargo in November 2013. Aerolíneas Argentinas and its former sister company Austral Líneas Aéreas operate from two hubs , both located in Buenos Aires: Aeroparque Jorge Newbery and Ministro Pistarini International Airport . Its narrow-body fleet, used on domestic and regional routes, consists of

3480-522: The airline until 2023. Fabian Lombardo, previously its chief commercial officer, in 2024. Aerolíneas Argentinas is headquartered at Aeroparque Jorge Newbery, located in Buenos Aires city. With the mentoring of Delta Air Lines , the company signed an agreement to begin the process of joining SkyTeam in late November 2010. It became the first South American and the second Latin American carrier in joining

3567-452: The basis of the price paid by Iberia and the Spanish firm's ulterior conduct (including some convoluted lease-back operations), with the airline paying the price for its own purchase with its assets. Subsequent management by American Airlines and SEPI drove Aerolíneas Argentinas into an almost terminal crisis in 2001. In June 2001, the aftermath began after the airline filed for bankruptcy protection from creditors, and went into administration ;

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3654-638: The carrier ordering the Avro 748 turboprop airliner. The aircraft started services on 15 February 1962 between Buenos Aires and Punta del Este . The first flight for the Caravelle in Aerolíneas colors was Buenos Aires–Santiago de Chile on 1 April 1962. At April 1965 the carrier had 5,960 employees, and the fleet consisted of three Comet 4s, one Comet 4 C, three Caravelles , 12 DC-3s (three of them freighters), six DC-4s, three DC-6s and 12 HS-748s . In 1966, loans granted by

3741-452: The company in its beginnings. Argentine personnel replaced the Frenchmen as they gradually withdrew from the airline, and shortly after Aéropostale's Argentine subsidiary Aeroposta Argentina was formed. In 1947, this airline became a mixed-stock company in which the government had a 20% stake and private investors held the balance. As Aeroposta expanded its network southwards and incorporated

3828-561: The decade, the fleet had the arrival of three different aircraft types from Boeing : the 727 —the first example entered the fleet in December 1977 on lease from Hughes AirWest and three more were ordered directly from Boeing—, the 737 , and the 747 . The incorporation of the Fokker F-28 into the fleet in the mid-1970s, prompted the withdrawal of the last HS-748s, making the company to be the first South American airline in operating an all-jet aircraft park. Frankfurt, Madrid , and Rome became

3915-557: The eastern US to Europe but needed to refuel in Goose Bay, Labrador, or Gander, Newfoundland, when flying westbound into prevailing westerly winds. Douglas designed four variants of the DC-6: the basic DC-6, and the longer-fuselage (60 in (150 cm)) higher-gross-weight, longer-range versions—the DC-6A with cargo doors forward and aft of the wing on the left side, with a cargo floor; the DC-6B for passenger work, with passenger doors only and

4002-519: The extent that some routes were simultaneously operated, even using similar equipment. However, a state of continuous tension existed over salary differences between both companies that eventually led the Aerolíneas Argentinas' pilots to a three-week-long strike that started on 1 July 1986. During this strike, the government leased pilots from the Argentine Air Force to operate some aircraft. Other companies took advantage of this situation and gained

4089-497: The fatal crash of United Airlines Flight 608 ) grounded the DC-6 fleet in 1947. The cause was found to be a fuel vent next to the cabin cooling turbine intake; all DC-6s were modified, and the fleet was flying again after four months on the ground. In April 1949, United, American, Delta, National, and Braniff were flying DC-6s in the United States. United flew them to Hawaii, Braniff flew them to Rio de Janeiro, and Panagra flew Miami-Buenos Aires; KLM, SAS , and Sabena flew DC-6s across

4176-452: The first destinations to be served with the new 747s, starting January 1977. Another milestone for the company took place in June 1980, with the first south polar scheduled service, linking Buenos Aires with Hong Kong via Auckland . Late that year, a second-hand Boeing 747SP was acquired from Braniff for US$ 51,000,000 (equivalent to $ 188,592,892 in 2023). The airline was assigned by law

4263-468: The fleet in mid-2009. In October 2009, the carrier had announced it was looking for about six Boeing 737-800 aircraft, both to complement the 12 Boeing 737-700s and to replace the ageing Boeing 737-500s. In November, the Boeing 737-200 made its last flight on a scheduled Buenos Aires– Catamarca – La Rioja –Buenos Aires passenger service. In late November 2010, the airline agreed to lease a further ten aircraft of

4350-400: The following aircraft: Aerolíneas Argentinas began to modernise its fleet in 2009, when it agreed to lease 10 Boeing 737-700s and to purchase two more of these aircraft that would act as a replacement for the ageing Boeing 737-200s and MD-80s . Along with the first leased ones, the two brand new aircraft, which became the first ones acquired by the company in 17 years, were incorporated into

4437-500: The form of Public Sector Undertakings (PSUs). The Malaysian government launched a GLC Transformation Programme for its linked companies and linked investment companies ("GLICs") on 29 July 2005, aiming over a ten-year period to transform these businesses "into high-performing entities". The Putrajaya Committee on GLC High Performance ("PCG"), which oversaw this programme, was chaired by the Prime Minister , and membership included

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4524-492: The fuel supplier, the suspension of the daily flight to Madrid, which also served Rome and was the last connection with Europe, followed a week later. After this, most of the fleet was grounded, and only 30% and 10% of domestic and international flights, respectively, were operating. Marsans group acquired a 92% stake through its subsidiary Air Comet from the SEPI in late 2001, and committed to inject US$ 50  million capital with

4611-446: The group's fleet grew from 26 to 63 planes and the average age of same was reduced from 20 years to 7.5. In 2017, projections for 2018 were given at 14.5 million passengers and a loss of $ 90 million. Between 2008 and 2021, Aerolíneas Argentinas received over $ 8 billion USD in subsidy from the Argentine government. Following the election of Javier Milei as president of Argentina in 2023, he affirmed his intention to privatize

4698-493: The intention of resuming short– as well as long–haul services. The resumption of international flights started in early November 2001. At July 2002, the airline and its subsidiaries employed 7,090. The company exited bankruptcy in January 2003, and emerged from administration a month later. That year, the first profit in five years was announced, along with an important increase in market share. In May 2008, an initial agreement between

4785-412: The leading application of the incomplete contract theory to the issue of state-owned enterprises. These authors compare a situation in which the government is in control of a firm to a situation in which a private manager is in control. The manager can invest to come up with cost-reducing and quality-enhancing innovations. The government and the manager bargain over the implementation of the innovations. If

4872-537: The long-haul fleet replacement, though they are to be retired progressively after the A340s. In November 2017, Aerolíneas Argentinas became the first Latin American airline in taking delivery of a Boeing 737 MAX 8 ; the aircraft flew its first revenue service on the Buenos Aires-Ezeiza–Mendoza route. In June 2010, Aerolíneas Argentinas revamped its image to give the airline a more modern appearance. The new logo

4959-535: The market share that Aerolíneas Argentinas lost, as domestic routes were operated by Austral, LADE , and LAPA , and the government temporarily authorized foreign carriers to exploit the company's international routes. Using a Boeing 747-200, the airline operated the first transantarctic commercial flight on 7 June 1980. During and shortly after the Falklands War in 1982, the airline was banned from British airspace. A flight from London-Gatwick to Argentina's capital

5046-478: The monopoly of international operations from Argentina in 1971. This meant no other Argentine airline was able to operate international flights, let alone the already created Austral . The carrier therefore became the flag carrier of the country. The same law also assigned Aerolíneas Argentinas a 50% share of the domestic market. Following the acquisition of Austral by the Argentine government in 1980, both Aerolíneas Argentinas and Austral became government-owned , to

5133-592: The negotiations fail, the owner can decide about the implementation. It turns out that when cost-reducing innovations do not harm quality significantly, then private firms are to be preferred. Yet, when cost-reductions may strongly reduce quality, state-owned enterprises are superior. Hoppe and Schmitz (2010) have extended this theory in order to allow for a richer set of governance structures, including different forms of public-private partnerships . SOEs are common with natural monopolies , because they allow capturing economies of scale while they can simultaneously achieve

5220-399: The private sector (perhaps because the good that is being produced requires very risky investments, when patenting is difficult, or when spillover effects exist), the government can help these industries get on the market with positive economic effects. However, the government cannot necessarily predict which industries would qualify as such 'infant industries', and so the extent to which this

5307-428: The proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (more than 50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC. The act of turning a part of government bureaucracy into a SOE is called corporatization . In economic theory ,

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5394-451: The question of whether a firm should be owned by the state or by the private sector is studied in the theory of incomplete contracts developed by Oliver Hart and his co-authors. In a world in which complete contracts were feasible, ownership would not matter because the same incentive structure that prevails under one ownership structure could be replicated under the other ownership structure. Hart, Shleifer, and Vishny (1997) have developed

5481-505: The reduction of pilot/aircraft pay rates, and the abandonment of obsolete equipment, among others. Passenger traffic for the group reached a record 8.5 million in 2013, a 57% increase from the time of its renationalization in 2008. Revenues rose to a record of US$ 2 billion in 2013, an 85% increase from 2008 levels; losses likewise declined from $ 860 million (78% of revenues) to $ 250 million (12% of revenues). Corporate assets as of 2012 had tripled to over $ 1.6 billion, as

5568-528: The remaining 65% to Interinvest/Andes holding, a consortium comprising the Spanish government holding company ( SEPI ) – the actual owner of Iberia before it was privatised in 2001 – and banks Merrill Lynch and Bankers Trust , among others. In July 1997, Iberia cut again its stake in Aerolíneas Argentinas from 20% to 10%, while American Airlines 's parent company AMR acquired a 10% stake of Aerolineas Argentinas/Austral's major stockholder Interinvest, equivalent to

5655-523: The safest airlines in the world. State-owned enterprise A state-owned enterprise ( SOE ) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have

5742-425: The salaries were paid by the Argentine government, instead of using money coming from the SEPI. The payment of salaries for the upcoming months was suspended, as the mechanics union refused to accept the reorganisation plan raised by the SEPI to keep the company afloat. On 6 June, flights to Auckland, Los Angeles, Miami, New York, São Paulo, Sydney and Rio de Janeiro were halted. Owing to a US$ 15  million debt with

5829-426: The same amount to be injected within a 10-month period, and a debt-equity exchange worth US$ 2.01  billion. Another consortium led by Alitalia , American Airlines , KLM and Varig had earlier pulled out from the process. Paradoxically, one of the first actions taken by the new Peronist government was to privatise the carrier, after airily opposing to the privatisation propositions of its predecessor. The sale of

5916-469: The same type was also under consideration to partly replace the Airbus A340-200s by 2016. In April 2013, Air Lease Corporation announced the lease of six Boeing 737-800s to the company, with deliveries starting in November 2014; in May 2013, CIT Group announced the lease of four additional aircraft of the same type, with deliveries starting in January 2014. In October the same year, an agreement for

6003-538: The secretariat to the PCG and managed the implementation of the programme, which was completed in 2015. As of 2024, Philippines Amusement and Gaming Corporation (PAGCOR) is the most profitable state-owned enterprise in the Philippines. It is the third largest contributor to government revenues, following taxes and customs. Douglas DC-6 The Douglas DC-6 is a piston-powered airliner and cargo aircraft built by

6090-469: The service. Conversely, they might be detrimental because they reduce oversight and increase transaction costs (such as monitoring costs, i.e., it is more difficult and costly to govern and regulate an autonomous SOE than it is the public bureaucracy). Evidence suggests that existing SOEs are typically more efficient than government bureaucracy, but that this benefit diminishes as services get more technical and have less overt public objectives. Compared to

6177-421: The smaller aircraft types in the fleet are concentrated at Aeroparque Jorge Newbery , which also serves as its operating base, whereas Ministro Pistarini International Airport is mainly used for international services, although some regional and a few domestic services are operated, as well. In 2010, the company began providing free-of-charge transfers to passengers connecting between the two airports. The service

6264-465: The state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. State-owned enterprises are a major component of the economy of Belarus . The Belarusian state-owned economy includes enterprises that are fully state-owned, as well as others which are joint-stock companies with partial ownership by the state. Employment in state-owned or state-controlled enterprises

6351-493: The state's response to natural disasters, financial crises and social instability. China's SOEs are at the forefront of global seaport-building, and most new ports constructed by them are done within the auspices of the Belt and Road Initiative . As of at least 2024, an Ethiopian SOE is Africa's largest and most profitable airline, as well as Ethiopia's largest earner of foreign exchange. In India , government enterprises exist in

6438-657: The term "enterprise" is challenged, as it implies statutes in private law which may not always be present, and so the term "corporations" is frequently used instead. Thus, SOEs are known under many other terms: state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, government-owned company, government controlled company, government controlled enterprise, government-owned corporation, government-sponsored enterprise , commercial government agency, state-privatised industry public sector undertaking, or parastatal, among others. In some Commonwealth realms , ownership by The Crown

6525-680: The time was Asunción, Auckland, Bogotá, Cancún , Caracas, Florianópolis , Lima, Madrid, Mexico City, Miami, Montevideo, New York, Orlando , Paris, Punta del Este, Rio de Janeiro, Rome, Santiago, São Paulo, and Sydney ; domestic services to Catamarca , Comodoro Rivadavia , Córdoba , Corrientes , Esquel , Iguazú , Jujuy , La Rioja , Mar del Plata , Mendoza , Neuquén , Posadas , Presidencia Roque Sáenz Peña , Resistencia , Rio Gallegos , Río Grande , Rosario , Salta , San Carlos de Bariloche , Santa Cruz , Santa Fe , Santiago del Estero , Trelew , Tucuman , Ushuaia , and Villa Gesell were also operated. Allegations of corruption were made on

6612-549: The war was over, the USAAF had rescinded its requirement, and the aircraft was converted to YC-112A , being sold in 1955. Douglas Aircraft modified the design into a civil transport 80 in (200 cm) longer than the DC-4. The civil DC-6 first flew on 29 June 1946, being retained by Douglas for testing. The first airline deliveries were to American Airlines and United Airlines on 24 November 1946. A series of inflight fires (including

6699-473: The –700 series from ILFC , which started being delivered in April 2011. As of November 2012, the airline was considering both the Airbus A350-900 and the Boeing 787-9 as replacement aircraft for the long-haul fleet. The incorporation of leased Airbus A330-200s in 2013 for serving routes to Bogotá, Cancún, Caracas and Miami was also planned, whereas an increased maximum takeoff weight version of

6786-526: Was an Air Force short-fuselage DC-6 which was designated VC-118 , and named The Independence . It is preserved in the National Museum of the United States Air Force at Dayton, Ohio . Total production of the DC-6 series was 704, including military versions. In the 1960s two DC-6s were used as transmitter platforms for educational television, based at Purdue University , in a program called

6873-458: Was completely owned by the government of Argentina, as of December 2014. As of December 2013, Aerolíneas Argentinas Cargo, domestic airline Austral Líneas Aéreas , ramp service provider Aerohandling, cargo division JetPaq S.A., and tourism operator Optar S.A. are listed as Aerolíneas Argentinas subsidiaries. The airline and its subsidiaries operate from two hubs , both located in Buenos Aires. Operations of domestic and regional flights by

6960-610: Was delivered in March 2015. With its ageing long-haul fleet in need of replacement, Aerolineas CEO Mario Dell’Acqua stated in November 2017 that the company was evaluating a replacement for the Airbus A340, with a decision to be made in 2018. The company was considering either the Boeing 787 or the Airbus A350 as possible replacements, with the intention of the new fleet entering service in 2020. The Airbus A330 will also be replaced as part of

7047-462: Was discontinued in 2020. As of December 2019, the airline and its subsidiaries employ 10,230. In 2020, due to the COVID-19 pandemic , Aerolíneas Argentinas and its Austral subsidiary merged. Austral's fleet was integrated into Aerolíneas' fleet, agreements were reached with both airlines' pilot and cabin crew unions, and the Aerolíneas Argentinas brand was retained. Pablo Ceriani was president of

7134-601: Was first served in 1989, and flights to London resumed in January 1990. The privatisation of the airline started being considered under the government of Raúl Alfonsín , when SAS was proposed to become a 40% shareholder of the state company. This was firmly resisted by the Peronist opposition. The staff had grown to 10,372 by March 1990. Late this year a consortium led by Iberia and Austral's owner Cielos del Sur S.A. acquired an 85% stake in Aerolíneas Argentinas for US$ 130,000,000 (equivalent to $ 303,178,808 in 2023) in cash,

7221-764: Was once scheduled, but because of the ban, passengers bound to Argentina had to change planes at Madrid-Barajas . At March 1985, Aerolíneas Argentinas had 9,822 employees. At this time, the fleet comprised one Boeing 707-320B , one Boeing 707-320C , seven Boeing 727-200s , 10 Boeing 737-200s , two Boeing 737-200Cs , five Boeing 747-200Bs , one Boeing 747SP, two Fokker F28-1000s , and a Fokker F28-4000 . The international network radiated from Buenos Aires and served Asuncion , Auckland, Bogotá , Cape Town , Caracas , Frankfurt, Guayaquil , Hong Kong, La Paz , Lima, Los Angeles , Madrid, Mexico City , Miami , Montevideo , Montreal , New York, Paris, Rio de Janeiro, Rome, São Paulo , Santiago , Porto Alegre , and Zürich . Sydney

7308-468: Was ratified by the Supreme Court . Furthermore, a clause enabled the buyer to indebt Aerolíneas Argentinas for the buyout process; this was reflected in the airline's 1991 balance , which included debts worth US$ 390  million for its own acquisition. This privatization process was not ruled as illegal until 2009. Austral's owner Cielos del Sur S.A. was sold to Iberia in March 1991, further increasing

7395-552: Was rejected by the SEPI. Furthermore, given that the AMR Corporation did not find purchasers for the company, the SEPI put the control of the airline back into Spanish hands. The vacancy left in the management positions that followed the departure of the AMR holding from Aerolíneas was soon filled in by the SEPI. To protect the interests of the Argentine national carrier, the government suspended an open skies agreement between Argentina and

7482-575: Was reported that Aerolíneas Argentinas had ordered ten F-27 Friendships . The Comet had begun commercial jet services in the 1950s, and the carrier once again set the pace among the South American airlines, when Aerolíneas' president A. Cdre. Juan José Güiraldes persuaded Argentina's President Arturo Frondizi to buy six of them, becoming the first overseas airline in ordering the type. The first of these aircraft departed Hatfield Aerodrome on 2 March 1959; over 18 hours were needed for it to cover

7569-670: Was the USAF C-118 Liftmaster; the USN R6D version used the more powerful R-2800-CB-17 engines. These were later used on the commercial DC-6B to allow international flights. The R6D Navy version (in the late 1950s and early 1960s) had Curtiss Electric constant-speed reversing propellers. The USAF and USN renewed their interest in the DC-6 during the Korean War and ordered 167 C-118/R6D aircraft, some of which later found their way to civil airlines. Harry Truman 's first presidential aircraft

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