Editing PLUNA (section)

===Collapse===
In early {{start date|2012|6}}, PLUNA's then [[CEO]], [[Matías Campiani]], disclosed that the airline might face collapse amid a financial distress that led to a loss of {{US$|18}}&nbsp;million for the eight months ending in February the same year, partly due to the [[protectionism]] of the [[government of Argentina]] —where the carrier concentrated 21% of its operations— following the renationalisation of [[Aerolíneas Argentinas]] in 2008, and partly due to the slowdown of the [[Economy of Brazil|Brazilian economy]] in the preceding months.<ref name="Uruguay's Pluna warns of collapse, but CEO's missive may be more political than financial"/><ref name="Uruguay's Pluna airline hits 'strong turbulence'"/><ref>{{cite news|title= Uruguay's Pluna Airline CEO warns of 'collapse'|first= Belén|last= Bogado|agency= Associated Press|location= Montevideo|date= 4 June 2012|url= http://m.apnews.com/ap/db_268779/contentdetail.htm?contentguid=KR8ohas9|archive-url= https://web.archive.org/web/20190708004121/http://m.apnews.com/ap/db_268779/contentdetail.htm?contentguid=KR8ohas9|archive-date= 8 July 2019|url-status= live|access-date= 21 June 2012}}</ref> Later on, with losses totalling {{US$|300}}&nbsp;million, Leadgate disposed of their 75% stake in the airline, transferring it back to the Uruguayan government.<ref name="Uruguay seeks new investor for Pluna after Leadgate's withdrawal"/><ref>{{cite news|title= Canada and US closely monitoring Uruguay’s flag air carrier in the brink of default|date= 5 June 2012|work= MercoPress|url= http://en.mercopress.com/2012/06/05/canada-and-us-closely-monitoring-uruguay-s-flag-air-carrier-in-the-brink-of-default|archive-url= https://web.archive.org/web/20120608044736/http://en.mercopress.com/2012/06/05/canada-and-us-closely-monitoring-uruguay-s-flag-air-carrier-in-the-brink-of-default|archive-date= 8 June 2012|url-status= live|access-date= 20 June 2012}}</ref> By that time, that percentage of PLUNA's stock was owned by LARAH, which was in turn 75% owned by Leadgate and 25% by [[Jazz Air]].<ref>{{cite news|title= Acuerdan salida de socio privado de Pluna y esperan ratificación|first= Andrés|last= Oyhenard|language= es|trans-title= Exit agreed for Pluna's private partner and ratification is awaited|work= [[El Observador (Uruguay)|El Observador]]|date= 12 June 2012|url= http://www.elobservador.com.uy/noticia/225855/acuerdan-salida-de-socio-privado-de-pluna-y-esperan-ratificacion/|archive-url= https://web.archive.org/web/20120616011648/http://www.elobservador.com.uy/noticia/225855/acuerdan-salida-de-socio-privado-de-pluna-y-esperan-ratificacion/|archive-date= 16 June 2012|url-status= dead|access-date= 21 June 2012}}</ref> Despite being initially disclosed that Jazz Air was not interested in taking over the entire 75% stock,<ref name="Jazz no está interesada en adquirir más acciones de Pluna"/><ref>{{cite news|title= Chorus Aviation won't invest more to help Pluna airlines out of financial woes|first= Sylvain|last= Larocque|agency= [[The Canadian Press]]|work= [[Canadian Business]]|date= 15 June 2012|url= http://www.canadianbusiness.com/article/87972--chorus-aviation-won-t-invest-more-to-help-pluna-airlines-out-of-financial-woes|archive-url= https://web.archive.org/web/20120620174327/http://www.canadianbusiness.com/article/87972--chorus-aviation-won-t-invest-more-to-help-pluna-airlines-out-of-financial-woes|archive-date= 20 June 2012|url-status= dead|access-date= 21 June 2012}}</ref> and that it was later informed that the Canadian airline was evaluating the acquisition,<ref name="Canadian company still interested in recapitalization of Uruguay’s national airline"/><ref name="Ejecutivos de Jazz llegan al país para negociar compra de Pluna"/> the government suspended PLUNA's operations on {{end date|2012|7|5|df=y}}—following a strike that started two days earlier, after failing to find new investors for the company.<ref name="Uruguay's Pluna halts operations indefinitely"/><ref name="Pluna closes down"/><ref name="Uruguay to shut down bankrupt flagship carrier Pluna -source"/> The government announced that both PLUNA's fleet and routes would be auctioned.<ref name="Liquidated Pluna to auction fleet, route rights within 60 days"/> It seemed there were no plans for the government to have any stake in PLUNA's successor.<ref name="Liquidated Pluna to auction fleet, route rights within 60 days"/>

In {{start date|2012|9}}, the auction of the seven Bombardier aircraft that belonged to the liquidated carrier was delayed until {{start date|2012|10}} as there were no bidders.<ref name="Pluna’s fleet auction postponed to Oct. 1"/><ref name="Auction of Pluna’s Bombardier aircraft collapses: terms “non attractive” and “non viable”"/> Cosmo Airlines, a Spanish charter carrier, eventually purchased the seven aircraft at a price of $137 million.<ref>{{cite web |url=http://atwonline.com/aircraft-engines-components/news/cosmo-buys-liquidated-pluna-s-seven-crj900s-1004 |title=Cosmo buys liquidated Pluna’s seven CRJ900s |author=Edvaldo Pereira Lima | date=4 October 2012}}</ref> Regionally, the void created by PLUNA's collapse benefited foreign airlines on some routes.<ref name="Aerolineas Argentinas, BQB, Gol and LAN-TAM poised to benefit from demise of Uruguay's Pluna"/><!-- The auction was finally held, and [[BQB Líneas Aéreas]] bought these seven aircraft for {{US$|137}} million; there are plans for another six aircraft to be auctioned in the future.<ref>{{cite news|title= Cosmo buys liquidated Pluna’s seven CRJ900s|first= Edvaldo|last= Pereira Lima|publisher= [[Air Transport World]]|date= 4 October 2012|url= http://atwonline.com/aircraft-engines-components/news/cosmo-buys-liquidated-pluna-s-seven-crj900s-1004|archive-url= https://web.archive.org/web/20121006091957/http://atwonline.com/aircraft-engines-components/news/cosmo-buys-liquidated-pluna-s-seven-crj900s-1004|archive-date= 6 October 2012|url-status= dead|access-date= 4 October 2012}}</ref> The aircraft will be used mainly on flights to Argentina and Brazil.<ref>{{cite web | url=http://www.ieco.clarin.com/economia/Lopez-Mena-compra-aviones-Pluna_0_790721173.html | title=El dueño de Buquebús se queda con los aviones de la ex Pluna | publisher=El Clarín | date=12 October 2012 | access-date=14 October 2012 | language=es}}</ref> -->

In 2016, a Uruguayan court concluded that no Leadgate executives were responsible for Pluna's collapse. Two years later, in 2018 a Panamanian-based investment consortium named Caballero Verde S. de R.L. took ownership of LARAH, which still owned 75% of Pluna's shares. The consortium plans to seek compensation from the Uruguayan government for Pluna's demise.<ref name="New Pluna owners to challenge Uruguay over airline’s demise" />