Avianca Holdings announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York to access its Debtor-In-Possession (DIP) financing totaling just over $2 billion. “The approval of the DIP financing package is a significant milestone and an important step forward for Avianca. We would like to again thank our lenders for their support and confidence in Avianca’s future success. We continue to work on our go-forward operating plan in order to emerge from…
After almost 3 months without any operations due to the COVID-19 pandemic, Avianca Ecuador resumed its domestic flights with 16 weekly frequencies between the cities of Quito, Guayaquil and Manta. According to the website ALNNEWS, the airline will resume its operations gradually, and in line with passenger demand for each…
This week, Avianca, the oldest airline of the Americas and second oldest in the world, celebrates its 100th anniversary. However, in recent times, the airline has not much to commemorate. Its financial situation is very fragile, with not much cash remaining and a very complex debt situation. As its latest…
As part of its strategic plan towards improving its financial performance, South American carrier Avianca continues to work to better optimize operations, axing underperforming routes, simplifying the airline’s fleet and divesting non core assets in the airline’s portafolio. The new strategic plan, labeled as “Avianca 2021” comes after changes in…
As part of its strategic plan towards improving its financial performance, South American carrier Avianca continues to work to better optimize operations, axing underperforming routes, simplifying the airline’s fleet and divesting non core assets in the airline’s portafolio. The new strategic plan, labeled as “Avianca 2021” comes after changes in…
