Avianca Airlines filed for chapter 11 bankruptcy in USA
On 10th May 2020, Latin America’s second-largest airline Avianca Airlines filed for chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. The airline expects to continue to operate under protection from creditors as it seeks bailouts from the Colombian and other governments.
On 10th May 2020, Latin America’s second-largest airline Avianca Airlines filed for chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. The airline expects to continue to operate under protection from creditors as it seeks bailouts from the Colombian and other governments.
Avianca has not flown a regularly scheduled passenger flight since late March and most of its 20,000 employees have gone without pay through the crisis.
“Avianca is facing the most challenging crisis in our 100-year history,” Avianca CEO Anko van der Werff said in a press release.
Avianca has created an information site, www.aviancawillkeeponflying.com to provide the company’s position on the bankruptcy filing.
It already went through bankruptcy in the early 2000s, from which it was rescued by a Bolivian-born oil entrepreneur, German Efromovich.
