Ultra Air is in dire financial difficulties and has suspended the sales of tickets until at least the end of April as lessors are in the process of repossessing five of the airline's six Airbus A320s. Due to the lack of aircraft the airline is forced to drastically reduce its operations and the outlook for Ultra Air is bleak.
As a result of these issues, Chilean low-cost carrier JetSMART is pulling out of its intention to acquire Ultra Air. This deal was just announced this week and JetSMART was in the process of doing due diligence to assess the financial position of Ultra Air.
If Ultra Air collapses, it would be the second carrier in Colombia to go into bankruptcy in a short time as on 27 February 2023 , Viva Air ceased all operations.
Photo by Ultra Air.
Scramble
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