Avianca seeking DIP financing to fly out of bankruptcy

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Avianca seeking DIP financing to fly out of bankruptcy

Oliver West
August 20, 2020 09:30 PM
Avianca, JFK, approach, landing, restructuring, bankruptcy, 575, Latam, Colombia
Avianca Aerovias del Continente Americano Airbus A319 commercial aircraft as seen on final approach landing at New York JFK John F Kennedy International Airport in NY, USA. The narrow body passenger airplane Airbus A319-100 is powered by 2 CFMI jet engines, having the registration N723AV. Avianca AV / AVA is a Colombian airline, the flag carrier of Colombia with headquarters in Bogota and member of Star Alliance aviation alliance. On May 10, 2020, Avianca filed for Chapter 11 bankruptcy in a court in New York City, NY, United States, and liquidated its subsidiary Avianca Peru, becoming one of the major airlines to filed for bankruptcy due to the COVID-19 pandemic crisis. February 13, 2020 (Photo by Nicolas Economou/NurPhoto) | Nicolas Economou/NurPhoto/PA Images

Senior secured bondholders of Colombian airline Avianca could recover 45% of their principal if they provide debtor-in-possession (DIP) financing to the company, which has been in chapter 11 bankruptcy proceedings since May.

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ColombiaAmericasLatAm BondsEmerging MarketsLatAmLatin America
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Oliver West
US Bureau Chief - Latin America Editor
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