Bankruptcy: Avianca Holdings

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.

• Full name
  Avianca Holdings S.A.
• Registration country
  Panama
• Industry
  Transportation