U.S. Court approves Avianca US$2 billion financing plan.
Avianca received U.S. Court approval for its $2 billion financing plan, which aims to keep operations running as the airline restructures in Chapter 11, according to Bloomberg,
See also: Avianca resumed its international flights from Bogota.
“U.S. Bankruptcy Judge Martin Glenn gave his approval to the funding plan after hearing testimony on the airline’s plan to deal with the uncertainty over the decline in travel due to Covid-19 during a hearing held by Zoom,” the media reported.
John E. Luth, executive president of Seabury International Corporate Finance, said that Avianca plans to be at about 30% of pre-Covid capacity by early 2021, increasing to about 50% by mid-2021.
By La República
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