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Avianca indicated that the restrictions were necessitated by “the constant restrictions in different countries in terms of limitation of the entry of tourists, operational reductions, as well as mobility within cities, and the high uncertainty that passengers still have."

Avianca says it has raised $2 billion of DIP financing, including new loans and refinancing of existing notes, despite the blockage of a $370 million USD bailout loan from the Colombian government.

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...

Finance Colombia’s founder Loren Moss was able to connect with Viva Air’s Executive Chairman Declan Ryan to better understand the gap between what the Duque Administration has said, and what they are doing. Are investors being treated equitably?

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...

Avianca is not renewing employment contracts after filing for bankruptcy. Many employees are on furlough, some of those will not return, no matter Avianca's outcome.

Avianca has begun dissolving its Peru subsidiary and will no longer fly domestic flights in the country. In the future, Avianca says it will continue to serve routes to and from Peru through its airline subsidiaries in Colombia, El Salvador and Ecuador, once the restrictions...

Avianca has filed for bankruptcy protection in the US Southern District Court of New York. The airline was already struggling and facing multiple scandals before the arrival of the Coronavirus COVID-19 Pandemic