February 25, 2019 |
Colombia's Avianca Holdings has called off a planned merger with Avianca Brasil as the Brazilian airline goes through bankruptcy proceedings.
"We have postponed our integration plans indefinitely, given the news that is coming out of Avianca Brasil," said Luca Pfeifer, the head of investor relations at Avianca Holdings.
Avianca Brasil, which operates independently from Avianca, filed for bankruptcy in December last year with BRL500m ($133m) in debt.
Pfeifer also said Avianca has hired three i
Colombian airline also hires three banks to evaluate how to refinance maturing debt