The restructuring plan that Avianca will implement to solve its financial problems does not contemplate reducing its current frequency plan.
According to the spokesmen for the company that filed for bankruptcy in United States on May 10, indicated that the airline will continue to fly to Panama.
Before the pandemic, the company offered flights from El Salvador, Costa Rica, and Bogotá, Colombia to and from Tocumen International Airport. The airline has a debt of $7.269 billion, a figure similar to its assets, which reached $7.273 billion. Among its largest creditors are five banks in the United States and Colombia that claim more than a billion between credits and guarantees that include a total of 9 aircraft.
"The effects of the Covid-19 pandemic have led us to face the most challenging crisis in our 100-year history as a company," said Anko van der Werff, president of Avianca Holdings.
Companies file for bankruptcy trying to seek legal protection while achieving debt restructuring and settlement with their creditors. The declaration does not imply a closure of all its operations.
Before the pandemic, the company offered flights from El Salvador, Costa Rica, and Bogotá, Colombia to and from Tocumen International Airport. The airline has a debt of $7.269 billion, a figure similar to its assets, which reached $7.273 billion. Among its largest creditors are five banks in the United States and Colombia that claim more than a billion between credits and guarantees that include a total of 9 aircraft.
"The effects of the Covid-19 pandemic have led us to face the most challenging crisis in our 100-year history as a company," said Anko van der Werff, president of Avianca Holdings.
Companies file for bankruptcy trying to seek legal protection while achieving debt restructuring and settlement with their creditors. The declaration does not imply a closure of all its operations.