On July 31, 2020, the airline EasyFly availed itself of the option offered by the Colombian government to companies that have been affected by the covid-19 pandemic, to restructure its debts and continue operating under sustainable conditions that guarantee the continuity of its operations.
Between March 9 and 12, 2021, the Emergency Negotiation Hearing of a Reorganization Agreement was held before the Superintendence of Companies, where the reorganization agreement was confirmed, allowing Easyfly to continue its operations.
“This confirmation is a milestone in the history of Colombian aviation and the company thanks all its officers, its creditors and the legal and economic team that backed the process for the support provided, noting that with this boost Easyfly is strengthened to continue connecting the regions of Colombia with normal operations while maintaining its high quality standards in its service,” the airline highlighted in a statement.
The Superintendency also confirmed that the agreement will be valid for 10 years, which will allow the airline to regularize its obligations, and was confirmed this Friday, March 12, 2021. It also revealed that the agreement restructured debts for close to $269 billion.
“The agreement included financial relief tools established in the insolvency ecosystem, such as the relaxation of the payment terms of the obligations and sustainable debt covenant,” the Superintendency said in a statement.