Avianca has joined airlines like South African Airways and Virgin Australia in seeking to significantly restructure – or end – its business.
It has initiated proceedings under Chapter 11 of the US bankruptcy code, “necessitated by the unforeseeable impact of the Covid-19 pandemic, which has resulted in a 90% decline in global passenger traffic and is expected to reduce industry revenues worldwide by $314bn”.
The Bogota-headquartered carrier grounded its passenger operations mid-March, cutting …

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Source: The Loadstar