Uruguay's Pluna Airlines CEO Matias Campiani has stepped down and has been replaced by Sebastian Hirsch, an executive at Leadgate, one of Pluna's largest investors. You can read my story here, http://tinyurl.com/bo2amoh (AWIN subscription required).
In a letter to employees, Campiani thanked the Pluna team for years of hard work building the carrier and blamed the airline's woes on a combination of factors, including restrictive airline and currency policies in neighboring Argentina and the high cost of fuel. Pluna relies on the Argentine leisure market for much of its traffic.
Uruguay's government owns 25% of Pluna, as does Canada's Chorus Aviation. The struggling airline is continuing to operate while it looks for new investment.