Flybondi, the low-cost airline, filed on Friday, October 2, for a concurso preventivo, a court-supervised debt restructuring similar to Chapter 11 in the United States, after about two months without a single flight.
The filing was made by FB Líneas Aéreas S.A., the company that operates Flybondi, and on Monday was assigned to National Commercial Court No. 24 under Judge Guillermo Pesaresi. The judge must still decide whether to open the case. If he does, he will appoint a trustee (síndico), and creditors will have to file their claims in the proceeding.
A concurso is not a bankruptcy. The debts stay but become part of the court process and are negotiated with creditors under judicial oversight, in an attempt to avoid bankruptcy.
No single figure covers what Flybondi owes. The tax agency ARCA and the aviation regulator ANAC claim more than 3 billion pesos (about US$2m) between them, and have frozen the airline's bank accounts. Hotel Presidente, which has asked the court to declare the airline bankrupt, is owed about 660 million pesos (about US$430,000), and aircraft lessors, fuel suppliers, airport and air-traffic-control agencies are also unpaid. BAE Negocios puts total liabilities at about US$120 million.
Former employees say more than 900 workers were dismissed or took voluntary exits, and that about 1,000 families are affected by unpaid severance, buyout payments and wages. "The company is in default in every way: on voluntary retirements, on severance, and even on the workers still with the company, who are not being paid either," said Franco Vázquez, a representative of dismissed workers.
Passengers are affected too. The tracker Failbondi counts about 2,400 cancelled flights and 383,000 affected passengers in 2026, and many refunds are still pending. Official ANAC data show Flybondi carried 1,865 domestic passengers in August (0.1% of the market), down from 254,533 (17%) a year earlier. Its fleet has shrunk from 13 aircraft to three, all on the ground in Argentina, as the other ten went back to lessors.
Flybondi had hoped to have its case handled alongside that of OCA, the postal company also controlled by COC Global, but the court did not link the two, so they proceed separately. More than 200 Flybondi ramp workers have moved to OC Support, an OCA-linked company that provides ground services to other airlines.
The next step is the court's decision on whether to open the proceeding and name a trustee, after which creditors will have a deadline to verify their claims.