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Avianca says that it was informed by Viva's aircraft lessors about delays in the payment of their financial commitments.

The merger has yet to be approved by regulators and is opposed by some competing airline operators.

The proposed new holding company will be domiciled in the UK but still needs regulatory approval from several governments.

The airline has significantly restructured its business model, reducing frequent flyer benefits, reducing passenger services, and removing luxury perks from its planes.

Before joining Avianca as CFO, Neuhauser was managing director covering Latin American airlines for Credit Suisse and worked as an investment banker for Deutsche Bank, Bank of America, and Merril Lynch.

Avianca Airlines announced this week that as part of its new management structure, current CFO Adrian Neuhauser will assume additional responsibilities relating to the airline’s operation and the company’s legal affairs as Corporate Executive Vice President, reporting to the CEO,...

After a $370 million USD government loan was blocked by a Colombian court, a US bankruptcy judge approved a total of $1.217 billion USD in new DIP loans that Avianca was able to negotiate from existing creditors and new investors.

Despite laying off thousands of employees, filing for bankruptcy, and asking the Colombian government for a $370 million USD bailout, FInance Colombia has learned that Avianca has paid bonuses of over $10 million USD to seven top Avianca executives. CEO Anko Van der Werff & CFO...

Avianca has renegotiated its aircraft commitment and reduced upcoming deliveries with Airbus & Boeing