It's a confusing mess but it ssems pretty clear that it's only a matter of days now.
The directors are meeting today to decide whether to initate a "convocatoria de acreedores" a sort of pre-bankruptcy proceedings. They have said that the only thing that will stop them from doing this is if the technicians union signs the new directors plan entailing cuts in wages, longer hours etc. All the other unions have expressed their willingness to sign.
The press here is full of hints that Cirielli - boss of the technichans union - is close to Eduardo Eurnakian, head of AA2000, the company that runs the country's major airports. Eurnakain, already a substansial shareholder in Southern Winds, is allegedly very keen to become the owner of the nations major airline as well as its airports.
Eurnakian has also been reported to be a great mate of Domingo Cavallo, the current Finance Minister and to have given the nation's entirely sane and in no way megalomaniac virtual president, the occasional lift in his private jet.Of course only communists, and evil-minded conspiracy theorists would read anything into that.
Cirielli says he won't sign because the Spanish intend to do what they did to VIASA and shut the company down anyway.
A federal judge last night ordered Aerol'neas to continue trading and flying the routes the government has ssigned to it but nobody - probably not even the judge herself - expects anyone to take any notice of this. Business is business after all.
My money is on Aerol'neas going bust, a gleefull Eurnakian leading a consortium to pick up the pieces and at least half the current workforce to lose their jobs.