News / Latin recovery fails to save Viracopos airport as operator files for bankruptcy

© Nuno André

Air cargo in Latin America has been on the rebound, but the renewed momentum has not lifted the fortunes of Brazil’s second-largest gateway enough to avert a crisis.

On May 7, the operator of Sao Paulo’s Viracopos airport (VCP) filed for bankruptcy protection, struggling with a debt load of BRL2.88bn ($847m).

The filing came in the wake of the publication of the airport’s traffic results for the first quarter, which saw passenger volumes at their lowest level for the period since 2013. ...