Colombian airline Avianca (NYSE: AVH, BVC: PFAVH) over the weekend admitted in a 6-K filing with the US Securities & Exchange Commission (SEC) that, as the Coronavirus COVID-19 pandemic continues to impact its operations, it has begun to defer payments on long term leases and on principal on some of its outstanding debt. The airline has also offered to all of its employees a voluntary unpaid leave program; accepted to date by 14,000 employees.
“Avianca is actively seeking mutually satisfactory agreements with its key suppliers, strategic lenders and other creditors to address the current scenario. As this situation unfolds, Avianca will continue to provide updates on other measures undertaken to protect its cash position to the extent possible,” said the company in a statement.
At the meeting, shareholders also elected the following persons as directors of the Company for the period between March 2020—March 2021:
- José Gurdian *
- Roberto Kriete **
- Oscar Dario Morales *
- Richard Schifter *
- Sergio Michelsen *
- Jairo Burgos De la Espriella *
- Fabio Villegas *
- Roberto Zamora *
- James P. Leshaw **
- Álvaro Jaramillo *** Consensus Director
- Rodrigo Salcedo *** Consensus Director
* Nominated by BRW Aviation LLC (controlled by United Airlines)
** Nominated by Kingsland Holdings Limited (controlled by Roberto Kriete)