Finance Colombia

Copa Airlines Fined BY US Department of Transportation $450,000 For Illegal Flights Between US & Venezuela

The U.S. Department of Transportation fined Copa Airlines $450,000 for unlawfully transporting passengers between the United States and Venezuela via a stopover point. Copa was ordered to cease and desist from future similar violations.

Posted On June 23, 2020

, By Loren Moss

72% Of All SIC Platform Complaints Against Airlines In Colombia Filed Against Avianca

Colombian air travel passengers have battled with airlines over fare refunds more than any other complaint during the Coronavirus COVID-19 Pandemic, according to the Superintendence of Commerce.

Posted On June 20, 2020

, By Loren Moss

While The Global Aviation Industry Faces Crisis, Viva Air Remains In Growth Mode: Exclusive Interview With CEO Felix Antelo

Viva Air CEO Felix Antelo Tells Finance Colombia why the airline remains optimistic, and discusses its growth both domestically, and with new routes coming to the US, the Caribbean, & Ecuador.

Posted On May 17, 2020

, By Loren Moss

US President Barack Obana and Panama’s President Juan Carlos Varela look on as (seated, l to r) David Joyce, President of GE Aviation, Jim McNerney, CEO and Chairman of Boeing, Stanley Motta, Chairman of Copa Holdings, and Copa CEO Pedro Heilbron signed documents recognizing the agreement. The airplanes had previously been listed as unidentified on Boeing’s Orders and Deliveries website.

Copa Airlines Announces Q1 2020 Profits Of $98.7 Million USD

For 1Q20, Copa Holdings reported net profit of US$74.3 million or earnings per share (EPS) of US$1.75, as compared to net profit of US$89.4 million or earnings per share of US$2.11 in 1Q19. Operating profit for 1Q20 came in at US$98.7 million, representing a 12.6% decrease from...

Posted On May 11, 2020

, By Loren Moss

AVIANCA IS BANKRUPT

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

Posted On May 10, 2020

, By Loren Moss

New Copa Notes To Pay 4.5%

Copa Airlines' new notes will be senior, unsecured obligations of Copa and will accrue interest at a rate of 4.50% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2020

Posted On April 28, 2020

, By Loren Moss

Copa Airlines Raising $350 Million USD War Chest Via Private Notes Offering

Copa is raising $350 million USD due 2025, presumably to prepare itself for the Coronavirus-related economic downturn.

Posted On April 27, 2020

, By Loren Moss

Copa Airlines Announces Plans To Restart Operations June 1

Copa Airlines is seeking approval to restart operations at Panama City's Tocumen International Airport on June 1 after suspending regular flights due to the Coronavirus COVID-19 Pandemic

Posted On April 27, 2020

, By Loren Moss

Avianca Says It May Not Survive

Avianca has revealed "that substantial doubt exists as to our ability to continue as a going concern.” United Airlines said “As a consequence, we may not realize a satisfactory (or any) return on our invested or loaned funds" to Avianca & affiliates.

Posted On April 27, 2020

, By Loren Moss

Empty airport with idle workers and no passengers. Photo © 2017 Loren Moss

Guest Editorial: The Airlines Are In Quarantine

Several international airlines had a few months to live if their planes were still on the ground. In the case of Latin American airlines, Avianca was forecast three months; to LATAM four months; to Azul six months and to COPA ten months, among others.

Posted On April 21, 2020

, By Sergio Escobar