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With Government Loan In Doubt, Avianca Secures Additional DIP Financing

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.

Posted On September 22, 2020

, By Loren Moss

Breaking News: Former Avianca Chairman Germán Efromovich Arrested On Corruption & Bribery Charges

Former Avianca chairman Germán Efromovich along with his brother José have been arrested in Brazil on charges of bribery and corruption as part of the Lava Jato investigation.

Posted On August 19, 2020

, By Loren Moss

Unimpressed By DIP Financing Plan, Bancolombia Terminates Coverage of Avianca

Bancolombia, Colombia's largest bank has issued a report panning Avianca proposed DIP financing plan from the point of view of current shareholders, and indicated that it would no longer be covering the bankrupt airline.

Posted On August 19, 2020

, By Loren Moss

Extreme Turbulence: Avianca Caught Up In Mammoth Airbus Bribery Scandal

Already entangled in multiple scandals involving illegal wiretapping of its pilots' union and improper favors to government officials, Colombian air carrier Avianca has now found itself involved in the massive multi-billion dollar global bribery scheme by Airbus uncovered by...

Posted On February 3, 2020

, By Loren Moss

Travelers Beware: Avianca Dishonoring Its Frequent Flyer Commitments

You cannot come in here. As of January 1, Lifemiles Silver members no longer have access to this lounge. How would you like to pay?

Posted On January 25, 2020

, By Loren Moss

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Air Wars: Delta Snatches LATAM From American Airlines Partnership, Leaves AA Without Partners In Several Major Markets

Delta (NYSE: DAL) and LATAM Airlines Group S.A. (NYSE: LTM; IPSA: LTM) last week announced that they have entered into a strategic partnership that seeks to reshape the air travel environment in The Americas. Chile based LATAM will sever its ties with longtime partner American...

Posted On September 30, 2019

, By Loren Moss

Avianca Boeing 787 Dreamliner at Medellín's Airport

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Control of Avianca: New York Court Issues Summary Judgement In Favor of United & Kriete’s Kingsland Holdings, Against BRW Aviation, Efromovich

This morning in a New York court, a judge issued summary judgement affirming Kingsland Holding’s control of Avianca, after industrialist Germán Efromovich defaulted on loan payments to United Airlines collateralized by Efromovich’s stake in Avianca Holdings (NYSE:...

Posted On September 27, 2019

, By Loren Moss

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Avianca’s Sturm und Drang Continues With Chairman Calling The Airline “Bankrupt” Then Saying He Didn’t Mean It

Avianca Holdings S.A. (NYSE: AVH) (BVC:PFAVH) stock plunged to an all-time low last week after new chairman and major stockholder Roberto Kriete called the company “Bankrupt” during an internal employee meeting. An internal video was leaked showing Kriete’s comments, which...

Posted On September 1, 2019

, By Loren Moss

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Avianca Sells Regional Airline Subsidiaries in Nicaragua & Costa Rica

Avianca Holdings S.A., (NYSE: AVH) (BVC: PFAVH), through its subsidiaries Grupo Taca Holdings Limited and Nicaraguense de Aviacion S.A., closed the sale of its shares in Turboprop Leasing Company Ltd., parent company of the Costa Rican airline Servicios Aéreos Nacionales S.A...

Posted On June 13, 2019

, By Loren Moss

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Aerial Combat: United Airlines Ejects Avianca Chairman Efromovich, Replaces Him With Arch-Nemesis Kriete

Last week United Airlines (NASDAQ: UAL) moved to remove longtime chairman and controlling shareholder Germán Efromovich from Avianca’s (NYSE: AVH) (BVC: PFAVH), board of directors. Adding insult to injury, United installed Roberto Kriete as the board’s new chairman. All this...

Posted On May 27, 2019

, By Loren Moss