Business
Latin America’s stricken airlines facing long haul to recovery
Latin America’s beleaguered airlines will take up to three years to recover losses due to the coronavirus pandemic, and in the meantime desperately need government help, according to experts surveying the damage to the industry.
The International Air Transport Association (IATA) estimates it will take at least that time for the region’s airlines to inch back to their pre-pandemic level for domestic and regional flights.
Long-haul services to the United States and Europe will take until 2024 to come back, it says.
“It’s a long-range view; it will not be short term. It will take a lot of work,” said Peter Cerda, IATA vice president for the Americas.
Evidence of the severity of the crisis came last week when the region’s two largest airlines, Chilean-Brazilian LATAM and Colombia’s Avianca, filed for bankruptcy in the United States.
With countries across the region in lockdown, flight activity has plummeted 93 percent from around 200,000 a day, with losses in revenue estimated at $18 billion.
Cerda says that figure is likely to increase.
The IATA official says the impact to the industry is even worse than the aftermath of the September 11, 2001 attacks on the United States.
“We are going to have airlines that are not going to be able to recover, that will have to shut down their operations for good,” he said.
After almost three months of lockdowns and restrictions on movement across the region, airlines have run out of cash and government support is “urgent,” he says.
‘Not a rescue’
“What we are asking for is not a financial rescue. It’s support, immediate relief that allows the industry to sustain operations,” said Cerda.
Airlines are seeking tax relief and credit guarantees from governments.
Globally, government aid to the airline sector stands at $123 billion, including $300 million from Latin America, according to IATA.
“Airports and airlines as well as governments are all losing out at this juncture,” because of the lack of connectivity across the continent, says Fernando Gomez Suarez, an aviation industry analyst in Mexico.
Governments are conscious of the broader effects and Chile is considering a bailout for LATAM, seeing the airline as vital to the economy, and seeking to preserve 10,000 direct jobs as well as the livelihood of up to 200,000 people the government says are dependent on the airline indirectly.
The company has already cut 1,800 of its total 42,000 staff.
The company is also holding discussions with the governments of Brazil, Peru and Colombia to save jobs there.
Negotiations
In Brazil, the largest internal market in the region with 90 million passengers a year, private banks headed by a development bank have granted a $1.1 billion loan to its three largest airlines — Gol, Azul and LATAM.
Gol and Azul first had to agree to cut executive salaries and provide special rates and packages to stimulate recovery.
In Mexico, the region’s largest destination for foreign tourists, Tourism Minister Miguel Torruco insisted his country would continue to have “strong, solid airlines.”
IATA said talks are underway with the government to reduce airline charges.
The country’s largest, Aeromexico, will resume some routes starting Monday, though ratings agency S&P lowered its credit rating this week due to the possibility of its debt being “unsustainable.”
In Argentina, state-owned Aerolineas Argentinas announced a merger with its subsidiary Austral this month to reduce infrastructure and staff to save up to $100 million.
IATA meanwhile warned about the impact of the government’s decision to keep Argentina’s airspace closed until September.
Keep flying
Airline workers who escaped mass layoffs have had to take full or partial wage cuts to keep their jobs.
“Imagine losing half or more of your salary… and the bills keep coming in,” says Jose de Jesus Suarez, spokesman for the Mexican pilots union ASPA, whose members have gone from six flights a week to just one or two a month.
Analyst Gomez Suarez says the markets left vacant by stricken airlines will quickly be absorbed by others.
And he says their most urgent challenge will be to harmonize new health protocols between countries, which will mean higher costs for passengers.
“People will keep flying. Of course, they will have to change their habits and customs.”
Reporting and photos: AFP
Bestbuy Maldives (BBM) brought together 100 chefs from leading resorts and restaurants across the country on 24 November for an exclusive culinary masterclass led by Italian One-Michelin-Star Chef Pasquale Palamaro. Held at Hulhule Island Hotel (HIH), the full-house session marked a key highlight of the ongoing “Mediterranean Soul, Maldivian Heart” culinary series presented by Atmosphere Hotels & Resorts in collaboration with BBM.
The masterclass formed the Malé City chapter of the broader programme, which features a lineup of events hosted at RAAYA by Atmosphere and VARU by Atmosphere throughout November 2025. The HIH masterclass served as a platform for professional development, skill exchange, and hands-on learning for chefs from some of the Maldives’ most distinguished culinary teams.
Chef Pasquale, celebrated for his work at Indaco Restaurant in Amalfi, guided participating chefs through a series of live demonstrations that reflected his signature philosophy—one that emphasises intuition, simplicity, and a deep respect for natural ingredients.
“Cooking, to me, is a dialogue with nature — an art of transforming simplicity into beauty. Bringing Indaco’s spirit to the Maldives is an opportunity to merge two coasts and two cultures through taste, technique, and emotion,” he shared during the programme.
Participants explored Mediterranean-inspired methods adapted to Maldivian produce, with Chef Pasquale showcasing dishes rooted in coastal heritage and contemporary craftsmanship. The session also encouraged discussion around ingredient integrity, sustainability-led cooking, and the evolving expectations of today’s luxury diners.
The fully subscribed masterclass reaffirmed BBM’s long-running commitment to cultivating professional excellence within the Maldives’ hospitality sector.
As the authorised distributor of globally renowned culinary and F&B brands, BBM has built a reputation for its Masterclass Series, which brings international expertise to local professionals through practical workshops and high-level training. This latest edition added a Michelin-starred perspective to the growing body of knowledge BBM continues to nurture across the industry.
Ali Afrah Hassan, Head – Human Resources, Administration & Corporate Affairs at BBM, highlighted the importance of consistent capacity building in the sector.
“This masterclass reflects our ongoing commitment to strengthening the skills of the Maldivian culinary community. By creating opportunities for chefs to learn directly from international experts, we help broaden professional exposure and support the industry’s growth. BBM will continue to invest in platforms that uplift local talent and contribute to raising the overall standard of hospitality in the Maldives,” he said.
The masterclass follows two immersive days at RAAYA by Atmosphere earlier in the month, where guests joined farm experiences, tasting sessions, and a hands-on workshop before a five-course dinner curated by Chef Pasquale. The series will continue with a 4-Hands Dinner at Kaagé on 27 November and a masterclass with a five-course dinner at NÜ on 28 November at VARU by Atmosphere.
Anupam Banerjee, Vice President, Food & Beverage at Atmosphere Core, emphasised how the collaboration bridges traditions and culinary ideologies.
“All our island resorts have long been recognised for their culinary offerings,” he noted. “Through Chef Pasquale’s artistry and our island-inspired ethos, we are crafting an evocative dialogue between Mediterranean and Maldivian gastronomies that not only captivates the palate but also champions environmental stewardship and celebrates the cultural richness of both regions.”
For attending chefs, the session offered more than demonstrations—it provided the rare opportunity to learn directly from a Michelin-starred figure whose approach blends innovation with a respect for locality. Many participants described the workshop as an opportunity to refine technique, discover new applications for familiar ingredients, and build valuable connections within the professional community.
With strong engagement and enthusiastic feedback from attendees, the masterclass stands as another milestone in BBM’s long-standing role in elevating culinary standards in the Maldives.
Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.
A Founding Partnership that Endures
Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.
BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.
Nurturing Local Talent
BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.
- BBM Chairman’s Trophy for the Best Maldivian Competitor.
- Most Promising Young Chef Award for emerging talent.
- Global exposure programs for Maldivian chefs through sponsored participation in international events.
- Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.
Investing in the Future of Hospitality
Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.
BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.
Proud Sponsors of Culinary Excellence
In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.
The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.
The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.
This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.
Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.
Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”
Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.
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