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The airline has significantly restructured its business model, reducing frequent flyer benefits, reducing passenger services, and removing luxury perks from its planes.
Removing business class from short haul commuter flights is not a big deal by itself, but what is Avianca’s strategy? What does the airline want to be?
The investment, said to be $70 million USD of convertible credit, brings the airline into proximity with both bankrupt Colombian carrier Avianca and Mexican carrier Volaris.