Tag: Avianca Airlines Colombia
Colombian carrier Avianca files for bankruptcy
Colombia’s national airline, Avianca, has filed for bankruptcy protection in a US court. The carrier is the second-largest in Latin America, but its passenger operations have been grounded since March because of coronavirus. It said the pandemic had cut more than 80% of its income, and it was struggling with high fixed costs. If it fails to come out of bankruptcy, Avianca will be the first major airline to go under amid the pandemic. In a statement, the firm said it had filed for Chapter 11 bankruptcy protection in a court in New York. The process postpones a US company’s ... Read more