Tag

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

The Colombian superintendent in charge of regulating corporate behavior has said that even as a passenger, his rights have been violated by Avianca.

Now, even coming out of bankruptcy and with an investment banker rather than an airline operations expert in charge, passengers are screaming.

U.S. District Court Judge Charlene Honeywell expressed disgust with the DEA for its failings and said other agents corrupted by "the allure of easy money" also needed to be investigated.

As reported by Finance Colombia and elsewhere, Avianca (OTCMKTS: AVHOQ, BVC: PFAVH) directors and creditors have recently taken a significant stake in troubled Chilean low-cost carrier Sky Airlines, while bankrupt Avianca seeks to emerge from Chapter 11 reorganization in the...

As a result of the foregoing, under the plan, the value of the outstanding shares of the company is expected to be reduced to zero.

Removing business class from short haul commuter flights is not a big deal by itself, but what is Avianca’s strategy? What does the airline want to be?

The investment, said to be $70 million USD of convertible credit, brings the airline into proximity with both bankrupt Colombian carrier Avianca and Mexican carrier Volaris.

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 investment is seen as a vote of confidence as the aviation industry navigates the global COVID-19 pandemic. While larger airlines like Avianca and Latam fell into bankruptcy reorganization, Viva directly renegotiated over 200 contracts with suppliers and lessors in order to...