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The value of the shares would be reduced to 0 due to the decrease in equity attributable to the Debtors’ liabilities to third parties and creditors, as well as the injection of capital by new investors pursuant to the Chapter 11 plan.

The next step in the Chapter 11 process will be a hearing for the United States Bankruptcy Court to consider the approval of the disclosure statement, which is scheduled for September 14, 2021.

Had the airline simply made Ms. Casanova whole, this case would not exist. However, the fact that Avianca chose to battle a $1,500 USD refund all the way to Colombia’s supreme court suggests a new, more hostile attitude towards the same passengers it once coddled.

Avianca’s highest fare class of XXL includes home testing for up to six passengers at the same location. Avianca passengers who purchase standard and economy fares will be able to take the PCR or antigen tests at discounted rates

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...

A 3 judge panel in Colombia's Cundinamarca district court issued an emergency injunction against the $370 million USD loan by the administration of Colombian President Ivan Duque to bankrupt Avianca Airlines, where his sister is a top executive. The lawsuit was filed by a...

Bancolombia, Colombia's largest bank has issued a report panning Avianca proposed DIP financing plan from the point of view of current shareholders, and indicated that it would no longer be covering the bankrupt airline.

Bankrupt airline Avianca has revealed that it is working on debtor in possession financing with several investment banks including Seabury Securities, Goldman Sachs, and JPMorgan Chase; subject to approval by US Bankruptcy Court and creditors. The deal would potentially open a...

The number of defaults in 2020 is on pace to exceed that of 2019 with indications there will be more to follow, given 6 group-level defaults YTD compared with 6 in all of 2019, and the high number of ratings at ‘CCC’ or below categories.