Avianca’s Chapter 11 plan - a review. Photo: Daniel Martínez Garbuno.
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Avianca has just filed its Chapter 11 plan; the Court is set to have a hearing on it on September 14, as the company positions itself to become the first Latin American carrier to exit bankruptcy following the COVID-19 pandemic. LATAM and Aeromexico will follow next. Now, let’s see Avianca’s Chapter 11 plan – a review.
Avianca first filed for Chapter 11 on May 11, 2020. The carrier had no other option since it had faced two crises in a row. First, it had poor management, which led United Airlines and Kingsland Holdings Limited to exercise certain remedies and take over the company in 2019.
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