Bankruptcy: Avianca Holdings
May 11, 2020
One of the biggest Latin American carriers and the world's second-oldest airline Avianca Holdings filed for bankruptcy protection. The company canceled Monday bond payments. Thus, it won't pay a $65.6 million bond maturity or make a coupon on bonds due in 2023.
Avianca keeps discussing with government officials in Colombia and in other countries to get financial support during the reorganization. Until it receives financial help, the company is going to use its cash on hand and funds from such operations as cargo.
Company — Avianca Holdings
Full nameAvianca Holdings S.A.