Though still fraught with difficulties, Argentine airline Aerolineas Argentinas' chances to avert bankruptcy are improving. During a pivotal meeting last week between Sociedad Estatal de Participaciones Industriales, the Spanish industry ministry's holding company that owns 85% of the airline, the Argentine government (which owns 5%) and the unions (who have a 10% stake), SEPI offered to grant a much needed $280 million injection of capital into the company.

The decision will keep the airline flying for at least two months until a resolution is reached on how to address its troubles. Late last year a company report detailed how existing financial difficulties had been exacerbated by a regional recession, mounting local competition and bad management.

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