Colombia’s Avianca obtains US$1.6 billion pledge to emerge from bankruptcy

Avianca Holdings filed in May 2020 under U.S. bankruptcy law to initiate a reorganization process due to the negative impact caused by the covid-19 pandemic on airlines.

RIO DE JANEIRO, BRAZIL - Colombian airline Avianca obtained financial commitments for US$1.6 billion to finance its exit from Chapter 11 U.S. bankruptcy law as part of its reorganization, the company announced Thursday.

"As a result of the continued support of its creditors, Avianca Holdings filed a motion with the Bankruptcy Court seeking approval of the terms of the commitment letters for its US$1.6 billion Chapter 11 exit financing," the airline said in a statement.

Avianca is the largest airline in Colombia and second largest in Latin America, after LATAM of Chile.

According to Avianca, these . . .

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