Start-up Spanish-Argentinean production company Altair Cinema has wrapped its first two feature films in Buenos Aires and is now preparing a similar second-year slate.

Alejandro Chomski's drama Today And Tomorrow (Hoy Y Manana), a co-production with Cinema Digital starring Manuel Navarro (Alas Rotas) and Antonella Costa (Garage Olimpo), starts post-production in March. The story is about a wannabe actress who turns to prostitution to make ends meet.

Juan Bautista Stagnaro's dramatic thriller The Seventh Archangel (El Septimo Arcangel), about a down-on-his-luck family man (Pablo Echarri) trying to get ahead, is being readied for an April release in Argentina through Sono Film. Jorge Polleri co-produced.

Of new scripts in development the most advanced is Chomski follow-up: LA On Bike, a drama about a young Argentinean who moves to Hollywood to eke out a living. Altair met with potential Mexican co-producers at the AFM.

Altair was launched last year by Argentina's Fernando Sokolowicz and distributor Aldebaran Films & Arts, itself a 50/50 joint venture between Madrid-based TV sales house Bulbeck & Mas and Argentinean businessman Richard Podesta.

Bulbeck & Mas co-principals Gillian Bulbeck and Juan Mas point to "full government subsidies, great creative talent and all the production facilities you could ever want" as factors making Argentina an ideal production location, despite the country's economic difficulties.

They opted against setting up their first two films as co-productions with Spain, but that could change in the future. Altair aims to produce another two films this year on slightly higher budgets. Future projects may be set up as co-productions with Latin America, Europe or the US, Bulbeck says. An international theatrical sales agent could be brought on board for current and future productions as well.