Colombian airline Avianca filed for Chapter 11 bankruptcy protection over the weekend, the result of the global collapse of air travel due to the COVID-19 pandemic. According to the company, “Avianca’s scheduled passenger operations have been grounded since mid-March, reducing its consolidated revenue by over 80% and placing significant pressure on its cash reserves.” Under the Chapter 11 protection, Avianca expects to continue flying and, the filing notes, the airline’s loyalty program, LifeMiles, is not part of the action filed on Sunday. It employs 21,000 throughout Latin America and 14,000 in Colombia alone.
This is a companion discussion topic for the original entry at https://www.avweb.com/aviation-news/avianca-files-for-chapter-11