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"His broad business acumen will be a key asset to our expansion plans in South America," said JetSmart CEO Estuardo Ortiz.

Fitch: "Medium-term uncertainties include Avianca's ability to maintain its strong operating margins while resuming its business growth post Chapter 11 process in U.S."

Avianca was widely condemned online after on of its representatives was filmed telling a passenger, “if you were my dad or someone important to me, I could help you.”

"We are looking for diplomatic channels to restore their rights, we are looking for their families," said Adriana Velázquez of ICBF.

So far, the Chilean airline has cleared three of the five required certification phases and submitted the necessary documentation to operate domestically from several airports.

The agreement strengthens the alliance between the two entities for a more fluid exchange of information and the development of joint work plans

After the court annulled a previous decision, Latam was cleared of improper operations and will resume issuing tickets at Bogotá's El Dorado Airport.

Previous startup airline of the year winners include Play Airlines, Cobalt Air, and Air Seoul.

"We are very happy to be able to return to Venezuela," said Alex Benitez of Avianca.

The low-cost carrier is now offering this route every Tuesday, Thursday, Friday, and Sunday.