Low-fare carrier Ultra Air has announced that it will suspend all of its commercial operations in Colombia with immediate effect.
Ultra Air’s situation has been precarious since the end of March. This news makes it the fourth Latin American airline to cease operations since the start of 2023. Chile-based JetSmart dropped its plans to acquire the carrier on 22 March, and despite a capital injection from shareholders on 27 March to cover liabilities, this was not enough to save the carrier from stopping operations.
In a statement, the airline said that it would be ceasing operations due to “adverse macroeconomic situations” and cited pressure from aircraft lessors to secure collection of their fees.
A deal with Avianca – a merger – was initially approved, but this is currently being evaluated due to the mismatch of route and fleet network between the two carriers. Avianca has offered to protect Ultra Air passengers, offering a special fare until 9 April.
