AEROLINEAS ARGENTINAS is close to formalising a long awaited fleet renewal thanks to significant investment from its Spanish owners.
Private Spanish consortium Air Comet plans to invest over $550 million over the next five years in upgrading the Argentinean airline's fleet of aircraft replacing many of its older generation aircraft with around 50 aircraft.
The airline is understood to have brokered a deal with Boeing that will see it acquire a mix of second-hand B737 short-haul models and B747 long-haul aircraft for delivery from November this year.
According to reports the deal breaks down to include 32 B737-300/500s and 17 B747-400s, providing additional growth capacity for the Argentinean flag carrier.
Although the majority of the older generation aircraft will be retired from service and sold, some will be retained and transferred to the company's new affiliate arms it is in the process of forming in Bolivia, Chile, Paraguay and Uruguay.
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