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Among those fired was Colombian Association of Civil Aviators (ACDAC) union head Jaime Hernández.

“We urge the pilots of ACDAC to return to work and comply with the legal decisions immediately," said Avianca head Hernán Rincón.

The pilots union said that "the Colombian state is on the side of the company that violates labor rights and not the rights of workers.”

Overall, the bank estimates this shortfall equates to an overall net income loss of $1.5 million USD per day.

Avianca hopes to stave off a strike in a morning meeting tomorrow with representatives of the pilots union ACDAC.

If enacted, a strike by ACDAC would ground some 700 pilots working for Avianca, the largest airline in Colombia.