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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.

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.

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.

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...

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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...

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:...

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...

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...

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...