Finance Colombia

While Asking For Government Bailout & Furloughing Thousands of Employees, Bankrupt Avianca Paid 7 “Insiders” Bonuses Of Over $10.3 Million USD

Despite laying off thousands of employees, filing for bankruptcy, and asking the Colombian government for a $370 million USD bailout, FInance Colombia has learned that Avianca has paid bonuses of over $10 million USD to seven top Avianca executives. CEO Anko Van der Werff & CFO...

Posted On September 21, 2020

, By Loren Moss

Despite Pandemic, Viva Air Expands With New Bogotá – Cali Route

Just days after the Colombian government allowed the restart of commercial aviation in the country, low cost carrier Viva Air has returned to expansion mode with the announcement of a new route between the Colombian capital of Bogotá and the third largest city and Colombia’s...

Posted On September 15, 2020

, By Loren Moss

Viva Air Restarts International Flights September 19 With Miami-Cartagena Route

Viva Air is the 1st Colombian carrier to announce international flights after airspace reopens. Colombia-Miami flights start September 19. Viva is waiting on Peruvian authorization to begin flights there as well.

Posted On September 10, 2020

, By Loren Moss

From Tomato-Thrower To Banana Republican, Can Medellin’s Mayor Daniel Quintero Learn Good Governance (Please?): Op-Ed

Only 8 months into his term as mayor of Medellín, tomato-throwing Daniel Quintero has managed to unite Paisas from labor unions to corporate giants against him.Multiple boards of directors have resigned, and Fitch has downgraded the city-owned utility's credit, citing 'governance...

Posted On September 1, 2020

, By Loren Moss

Free Webinar August 26: Hydropower of Latin America: Implementation of HPPs Construction & Modernization Projects

Free webinar August 26: Hydropower of Latin America: implementation of HPPs construction and modernization projects 11 am Colombia time Organizer: Vostock Capital Website: https://www.latinamericahydrocongress.com/en/webinar

Posted On August 17, 2020

, By Loren Moss

Lisa Mota Pinto is commercial vice president of the Viva Air Group.

Viva Air Launches New Frequent Flyer Prepurchase Program

Medellín based low cost carrier Viva Air in association with travel technology company Caravelo, has launched a new product for its frequent passengers that allows them to pre-purchase packages of coupon vouchers redeemable for domestic or international flights, without having to...

Posted On August 10, 2020

, By Loren Moss

Little Caesars Pizza Coming To Colombia

Global pizza chain Little Caesar's is coming to Colombia. The first two restaurants in Bogotá will be located in the San Cipriano and Prado Veraniego neighborhoods of Suba, on the capital city's far north side.

Posted On August 6, 2020

, By Loren Moss

Avianca Not Renewing Certain Employment Contracts Due To Bankruptcy & Pandemic

Avianca is not renewing employment contracts after filing for bankruptcy. Many employees are on furlough, some of those will not return, no matter Avianca's outcome.

Posted On July 28, 2020

, By Loren Moss

The above IHME map shows the mean value (across the 1,000 regressions that IHME runs in its SEIR model) of effective reproductive number, R, on June 9. Infections on June 9 roughly correspond to cases of COVID-19 on June 20 given the average duration of 11 days between infection and being reported as a case. Where this value is greater than 1, it means that every person infected with COVID-19 will produce more than one additional infected person. To successfully eliminate a disease from a population, R needs to be less than 1. The map shows that on June 9 in many parts of the world, R was lower than 1, including many parts of North America, Europe, Africa, India, Australia, and New Zealand. Locations that are showing effective R values greater than 1, which means that the number of cases of COVID-19 in the population is growing, include several states in India, the US, Mexico, and Brazil, as well as many countries in the Southern Hemisphere, such as Argentina, Chile, and Indonesia. Several countries in the Middle East, including Egypt, Saudi Arabia, Iraq, and Yemen, as well as Turkey and Iran, also had R values greater than 1 as recently as two weeks ago.

Up To 81,942 May Die In Colombia From COVID-19 Says University of Washington Institute

The Institute for Health Metrics and Evaluation (IHME) at the University of Washington is forecasting nearly 388,300 people will die from COVID-19 in Latin American and Caribbean nations by October 1. Brazil is expected to exceed 166,000 deaths and Mexico 88,000. Six other...

Posted On June 29, 2020

, By Loren Moss

Foreign Investors Still Confident In Colombia, According To Survey by IPAs

The study revealed that 66% of the surveyed businesspeople were optimistic regarding the operations of their companies in Colombia, while 30% feel the same in respect to the performance of the economy in general.

Posted On June 29, 2020

, By Loren Moss