LAB’s Asbún Flees To US

Ernesto Asbún, former president of flagship Bolivian airline Lloyd Aéreo Boliviano (LAB), has fled from Spain to the United States in the face of extradition requests from Bolivia to Spain. Asbún arrived in Spain at the beginning of July from Argentina after crossing the border from Bolivia. He is wanted in Bolivia on charges of financial mismanagement of the airline, which was put under the workers’ control in June. Asbún holds 50.4% of LAB’s stock; the remaining stake is owned by the government and other minority shareholders. The airline is currently facing economic crisis with mounting debts of around $160 million.