Avianca plans to leave bankruptcy by year end

Avianca plans to leave bankruptcy by year end

Debt Loans Regulation Colombia United States

Colombia's Avianca said a court in New York has approved a reorganization plan that it will allow it to leave bankruptcy before the end of the year as a "financially viable and stable airline." Avianca will emerge from Chapter 11 proceedings with "significantly reduced debt" and more than $1 billion in liquidity, it said in a press release on Tuesday. The airline plans to add 23 routes in 2022, including Colombia, El Salvador, Guatemala and Costa Rica, and expects to have more than 130 aircraft

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