November 4, 2021
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
Colombian receives court approval for its reorganization plan to become a "financially viable" airline