Finance Colombia » LATAM Airlines

While Copa & Viva Airlines have not announced any fleet groundings so far, this week, Avianca & LATAM have announced significant cutbacks on routes, grounding between 30-40% of their fleets in the face of the Coronavirus COVID-19 Pandemic.

Colombian Government To Loan $370 Million USD To Bankrupt Avianca

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)...

Posted On September 1, 2020

, By Loren Moss

Latin American Corporate Defaults Expected To Rise, says Fitch

The number of defaults in 2020 is on pace to exceed that of 2019 with indications there will be more to follow, given 6 group-level defaults YTD compared with 6 in all of 2019, and the high number of ratings at ‘CCC’ or below categories.

Posted On June 29, 2020

, By Loren Moss

LATAM AIRLINES FILES BANKRUPTCY

LATAM Airlines this morning filed for Chapter 11 Bankruptcy in the US, though Quatar Airways & 2 South American Families have pledged almost $1 billion USD in support to preserve the airline & uninterrupted operations.

Posted On May 26, 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

Avianca Credit Rating Downgraded Into Deep Junk By Fitch

Fitch Ratings yesterday announced that it had downgraded Avianca Holdings’ Long-Term Foreign and Local Currency Issuer Default Rating (IDR) to ‘C from ‘CCC-‘. The ratings have been removed from Rating Watch Negative. This downgrade follows the announcement...

Posted On April 3, 2020

, By Loren Moss

Avianca, LATAM Partially Ground Fleets As Pandemic Spreads, Travel Restrictions Take Effect

While Copa & Viva Airlines have not announced any fleet groundings so far, this week, Avianca & LATAM have announced significant cutbacks on routes, grounding between 30-40% of their fleets in the face of the Coronavirus COVID-19 Pandemic.

Posted On March 15, 2020

, By Loren Moss

Interview: CEO Felix Antelo On How Viva Air Returned To Cali, Is Welcoming First Time Flyers & Growth in Colombia’s Aviation Market

Viva Colombia's Felix Antelo tells Finance Colombia readers why the airline left Cali and how it returned, recent changes in the airline, and the ways the airline is welcoming first-time flyers and foreign tourists and family visitors.

Posted On February 11, 2020

, By Loren Moss

Avianca & Copa Frequent Flyers: You Just Lost Some Star Alliance Benefits

Unless travelers are traveling on a first class or business class ticket, they will lose access to lounges in over two dozen airports

Posted On February 4, 2020

, By Loren Moss

Copa Airlines World’s 2nd Most Punctual, LATAM #5

Airline analytics and data firm OAG (Official Airline Guide) has released its 2020 airline punctuality ratings, which rate Copa Airlines as the world’s second most punctual with 92.01% of flights arriving within 20 minutes of schedule. Only Garuda Indonesia surpassed this with a...

Posted On February 2, 2020

, By Loren Moss