16-Oct-2013 10:00 AM

Argentina to reduce allocation to Aerolineas Argentinas in 2014 State Budget

Argentina's Government announced (15-Oct-2013) plans to reduce its allocation to Aerolineas Argentinas in the 2014 State Budget from ARS3.1 billion (USD531 million) to ARS2.7 billion (USD462 million), as confirmed by the carrier. Aerolineas said the reduction was made possible by an increase in passengers from 7 million in 2012 to 8.4 million in 2013, with the carrier for example achieving record ticket sales in Sep-2013 which "exceeded" USD182 million, increasing 37% year-on-year. [more - original PR - Spanish]