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José González Bell – [email protected]
According to Bloomberg, Avianca received US Court approval for its $ 2 billion financing plan, which aims to keep operations running as the airline restructures in Chapter 11.
“US Bankruptcy Judge Martin Glenn gave his approval to the financing plan after hearing testimony about the airline’s plan to address the uncertainty about travel declines due to Covid-19 during a hearing held by Zoom “, indicates the medium.
John E. Luth, CEO of Seabury International Corporate Finance, said Avianca plans to be at around 30% of precovid capacity by early 2021, increasing to around 50% by mid-2021.
“With the approval of the US Court of DIP financing, Avianca increases its financial liquidity, supporting our operations while we continue to fly and serve our customers,” said Anko van der Werf, president of Avianca.
