Government role key as Avianca faces Chapter 11

Avianca, HQ, Bogota, LatAm, Colombia, airline, 575
By Oliver West
14 May 2020

Holders of Avianca’s international bonds are keenly watching the Colombian government’s next move after the airline filed for Chapter 11 bankruptcy protection in New York.

On May 10, the same day that a $66m unsecured bond matured, Avianca said that it had filed for court protection to preserve operations and restructure its balance sheet in the face of the Covid-19 pandemic. 

According to the filing, a $484m senior secured bond maturing in 2023 ...

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