Avianca considers sale of its Brazilian airline

Avianca considers sale of its Brazilian airline

M&A Loans Debt Corporate & Sovereign Strategy Brazil Colombia

The Colombian airline Avianca could speed up the sale of its Brazilian business or get a loan to repay $100m to aircraft lessors looking to take back 10 airplanes. "The lessors are already moving to repossess the aircraft, so the clock is ticking," said Kenneth Ferreira, a partner at the São Paulo law firm TozziniFreire. "They will have to do something soon to save their aircraft before the judge's 30-day deadline expires." Avianca's Brazilian subsidiary filed for bankruptcy on December 11, sayi

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