Peruvian Airlines suddenly shuts down due to a “lack of liquidity”


Peruvian Airlines suddenly ceased all operations on October 2, 2019. The shut down was due to the Peruvian Customs Tax Court seizing the airline’s bank accounts after the airline failed to complete fuel payments. The airline has announced it is suspending all operations until it finds new investors. The airline issued this statement (translated from Spanish): As a result of an embargo carried out by the Customs of Peru on all Peruvian accounts and due to the valuation difference in the temporary importation of two commercial aircraft since the Temporary Admission Law did not exist in the country, the coercive action occurred that resulted in the lack of liquidity that affected our operations. This embargo that generated the paralysis of our flights for half a day, created a distrust with the travel agencies that significantly lowered their sales, affecting even more the cash flows of the company not allowing its operation, a situation from which we could not recover, So we are in the unfortunate situation of having to suspend all our flights until further notice. Faced with this situation, we are making efforts with new investors in order to refloat the company in order to continue providing the important service that Peruvian represents for national aviation as it is the only Peruvian company that operates in the skies of Peru for more than 10 years. 


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