[ad_1]
The document (Decree 811) signed by President Iván Duque in the midst of the COVID-19 crisis gave permission to the Government, according to dataiFX, to participate in share sales programs made by companies “of strategic interest” for the Nation, in case they needed a capital injection, something that has nothing to do with the direct loan to Avianca for 370 million dollars.
Although many thought that the decision of the Constitutional Court would take away this option from the airline, the truth is that, according to the media, Avianca is not offering its shares for the Government loan (whose expiration would be in November 2021), so the only thing that has stopped it is the ruling of the Administrative Court of Cundinamarca that ordered it to be suspended.
Where does the money for the loan to Avianca come from?
The resources for the millionaire credit (370 million dollars) would come from the Emergency Mitigation Fund (FOME) created by the Duque Government through a decree in the midst of the economic crisis facing the country due to the COVID-19 pandemic. , document that has already been declared constitutional by the high court, so the transaction to Avianca could, on this side, remain firm.
“From this fund, financing can be provided directly to private, public or mixed companies that carry out activities of strategic or national interest, which would be the case of Avianca due to its important role in Colombian air transport,” the media highlighted.
But Avianca no longer needs all the money
The airline highlighted in a statement that thanks to the fact that it obtained investors The amount requested from the Government to recover from the crisis it is going through was reduced to 240 million dollars, 130 million dollars less than those requested from the government of President Iván Duque.
But that is not all; According to Avianca, not only the Government of Colombia, but others, can also participate in this credit operation.
Among the new investors that Avianca will have are Kingsland Holdings SA and United Airlines, current administrators of the company; However, This financing is subject to approval by the United States court that is handling the airline’s case.
[ad_2]
