Avianca pede falência in the US due to the crisis caused by coronaviruses

DisclosureCompany announced voluntary decision in statement on this Sunday (10)

To Colombian airline Avianca announced this Sunday (10) that it asked to use the law of two United States of deficiencies to initiate a reorganization process due to crisis caused by the pandemic of the novo coronavirus.

“To Avianca Holdings and some of its subsidiaries and affiliates, they will voluntarily submit a request for Chapter 11 of the Fallencies Code of the United States in the Court of Fallencies of the Southern District of New York, in order to preserve and reorganize the businesses of Avianca. “, Declared a company in the statement.

Immobilized since March 23, due to the order of voos ordered by the government of Colombia, the airline justified as the speed of the impact of the Covid-19 crisis, which is classified as “dramatic”.

“Taking advantage of this process was necessary due to the unpredictable impact of the Covid-19 pandemic, which caused a decrease of 90% in the number of non-traffickers worldwide. To LifeMiles, a company that manages or programs as usual, it is not part of the application of Chapter 11 ”, he details to Avianca Holdings.

To the company, which completed 100 years in the past, accentuated that upon suspension of regular operations of passages reduced its consolidated recipes in excess of 80% and exercised a significant pressure on its liquidity.

“The effects of the Covid-19 pandemic will lead us to face the most challenging crisis of two of our 100 years of history as a company,” dissected or CEO of Avianca Holdings, Anko van der Werff, quoted not communicated.

Van der Werff emphasized that, despite the success of the restructuring of Avianca Holdings’ life, not last year, taking advantage of the shortcomings and necessary steps to face the financial challenges, since the recovery will be gradual.

“When the government restrains on suspended foreign air travel and we are able to gradually resume our voos de passageiros, we hope to contribute to or re-emergence of the economy in Colombia and in other markets-chave and reincorporate our officials”, salientou.

* Com EFE