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MIAMI - Industry observers were not particularly shocked here last week when Peru flag carrier Aeroperu began to shut down all operations for at least 60 days while the carrier attempts to refinance its $174 million debt.
"It doesn't surprise me," said Chris Seymour, Airclaims senior analyst. "The Peruvian market has many new entrants and Aeroperu has had trouble fending them off."
Aeroperu, Peru's oldest airline whose main shareholders are Delta Air Lines (DAL) and Aeromexico, is close to restructuring $90 million of its debt with foreign investors, an official said. The company has about $50 million in assets.
Seymour said a closure during the restructuring is a "sensible thing to...