Avianca trouble...
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Avianca trouble...
All the best for our aviation colleagues...
https://www.reuters.com/article/avianca-holding-bankruptcy-idUSFWN2CQ1G1?fbclid=IwAR3qUJcT3Eh0SBmpAm42bzoYbbLu58vRthkoO B0qC_rpqV3EOHkeMWu14UY
https://www.reuters.com/article/avianca-holding-bankruptcy-idUSFWN2CQ1G1?fbclid=IwAR3qUJcT3Eh0SBmpAm42bzoYbbLu58vRthkoO B0qC_rpqV3EOHkeMWu14UY
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Bonds News
May 10, 2020 / 1:04 PM / Updated an hour ago
Avianca, Latin America’s second-largest airline, estimated liabilities between $1 billion to $10 billion in a filing with the U.S. Bankruptcy Court for the Southern District of New York. (Reporting by Devika Krishna Kumar in New York; Editing by Daniel Wallis)
May 10, 2020 / 1:04 PM / Updated an hour ago
Colombia's Avianca files for bankruptcy
May 10 (Reuters) - Colombian airline Avianca Inc filed for Chapter 11 bankruptcy on Sunday after saying last month there is “substantial doubt” about its ability to stay in business due to the coronavirus crisis.Avianca, Latin America’s second-largest airline, estimated liabilities between $1 billion to $10 billion in a filing with the U.S. Bankruptcy Court for the Southern District of New York. (Reporting by Devika Krishna Kumar in New York; Editing by Daniel Wallis)
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Not Avianca's first rodeo in Chapter 11:
https://www.sgrlaw.com/ttl-articles/872/
On March 21, 2003, Avianca Airlines filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code in bankruptcy court in New York City. Avianca emerged from Chapter 11 on December 10, 2004, as a reorganized company, adequately capitalized and with a cost structure that the Company projected could be sustained well into the future. Thus began and ended the story of one of the most remarkable bankruptcy cases in United States history.
