Finance Colombia

Unimpressed By DIP Financing Plan, Bancolombia Terminates Coverage of Avianca

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.

Posted On August 19, 2020

, By Loren Moss

While The Global Aviation Industry Faces Crisis, Viva Air Remains In Growth Mode: Exclusive Interview With CEO Felix Antelo

Viva Air CEO Felix Antelo Tells Finance Colombia why the airline remains optimistic, and discusses its growth both domestically, and with new routes coming to the US, the Caribbean, & Ecuador.

Posted On May 17, 2020

, By Loren Moss

Resistance Builds To Avianca’s Appeal For Colombian Governmental Bailout

Avianca has asked for a bailout by the Colombian government. Colombians are pointing out that the airline is majority foreign owned, and legally Panamanian, not Colombian.

Posted On April 30, 2020

, By Loren Moss

Avianca Says It May Not Survive

Avianca has revealed "that substantial doubt exists as to our ability to continue as a going concern.” United Airlines said “As a consequence, we may not realize a satisfactory (or any) return on our invested or loaned funds" to Avianca & affiliates.

Posted On April 27, 2020

, By Loren Moss

Avianca's new lounge has ample private cubicles with power connections in quiet areas of the complex.

Avianca Stops Servicing Debt Principal & Lease Payments, Announces No Dividends

Colombian airline Avianca over the weekend admitted that, as the Coronavirus continues to impact its operations, it has begun to defer payments on long term leases and on principal on some of its outstanding debt. Over 14,000 employees are currently on unpaid leave.

Posted On March 30, 2020

, By Loren Moss

Avianca flyers can say goodbye to the full featured seats and legroom they are accustomed to. (Photo: Loren Moss)

Avianca To Cram 24 More Seats Per Plane Amid Staggering Drops in Net Income & Passenger Traffic

Avianca (NYSE: AVH, BVC: PFAVH) has announced that it is changing out the seats in its Airbus A320 fleet with cheaper, thinner versions that will allow the airline to squeeze 24 more passengers on a flight, even though its passenger traffic is down almost 10% and on-time...

Posted On March 4, 2020

, By Loren Moss

Travelers Beware: Avianca Dishonoring Its Frequent Flyer Commitments

You cannot come in here. As of January 1, Lifemiles Silver members no longer have access to this lounge. How would you like to pay?

Posted On January 25, 2020

, By Loren Moss

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Avianca Takes $125 Million In Additional Debt From Citadel, Latin American Investors

Avianca’s (NYSE: AVH; BVC: PFAVH) today announced the funding of previously announced convertible secured debt financing in a total amount of $125 million USD. This financing is incremental to the $250 million convertible secured stakeholder facility loan by United Airlines...

Posted On January 13, 2020

, By Loren Moss

One of Avianca new 787s at Medellin's Airport

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Standard & Poor’s Upgrades Avianca Holdings To ‘B-‘ From ‘SD’ & LifeMiles To ‘B+’ From ‘B-‘ On Debt Restructuring Completion

S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to...

Posted On December 28, 2019

, By Loren Moss

Avianca Holdings Boing 787 in Rionegro Fitch Ratings liquidity

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Fitch Rates Avianca’s Proposed Debt Swap At C/RR4

Fitch Ratings has assigned a ‘C’/’RR4’ rating to Avianca Holdings S.A.’s (NYSE: AVH; BVC: PFAVH) $550 million USD senior secured notes due 2020. These notes are being received in exchange for $550 million of senior unsecured notes due 2020. The new...

Posted On November 4, 2019

, By Loren Moss