December 17, 2018 |
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
Colombian airline could also get a loan from United to keep aircraft lessors at bay