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As reported by Finance Colombia and elsewhere, Avianca (OTCMKTS: AVHOQ, BVC: PFAVH) directors and creditors have recently taken a significant stake in troubled Chilean low-cost carrier Sky Airlines, while bankrupt Avianca seeks to emerge from Chapter 11 reorganization in the...

As a result of the foregoing, under the plan, the value of the outstanding shares of the company is expected to be reduced to zero.

The value of the shares would be reduced to 0 due to the decrease in equity attributable to the Debtors’ liabilities to third parties and creditors, as well as the injection of capital by new investors pursuant to the Chapter 11 plan.

The next step in the Chapter 11 process will be a hearing for the United States Bankruptcy Court to consider the approval of the disclosure statement, which is scheduled for September 14, 2021.

Had the airline simply made Ms. Casanova whole, this case would not exist. However, the fact that Avianca chose to battle a $1,500 USD refund all the way to Colombia’s supreme court suggests a new, more hostile attitude towards the same passengers it once coddled.

Avianca’s highest fare class of XXL includes home testing for up to six passengers at the same location. Avianca passengers who purchase standard and economy fares will be able to take the PCR or antigen tests at discounted rates

In September 2020, Avianca and its subsidiaries transported a total of 164,859 air passengers including 5,342 passengers on repatriation flights, resulting in a monthly load factor of 66.7%.

Avianca Airlines announced this week that as part of its new management structure, current CFO Adrian Neuhauser will assume additional responsibilities relating to the airline’s operation and the company’s legal affairs as Corporate Executive Vice President, reporting to the CEO,...

After a $370 million USD government loan was blocked by a Colombian court, a US bankruptcy judge approved a total of $1.217 billion USD in new DIP loans that Avianca was able to negotiate from existing creditors and new investors.

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.