Viva last night suspended aviation operations, saying that the low cost carrier has run out of resources and options while waiting on a decision by Colombian government regulators.
Colombia’s finance ministry over the weekend announced that it would provide an 18 month loan of up to $370 million USD to Avianca Airlines, currently in Chapter 11 proceedings in US courts. The financing would be provided under Avianca’s proposed Debtor In Possession (DIP)...