Avianca Brasil being sued for unpaid aircraft lease payments
Monday, 20 Oct, 2016
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Avianca Brasil is being sued for more than $4 million in unpaid lease payments for one of its Airbus A330 jets.
The lawsuit was brought by lease trustee Wells Fargo on behalf of aircraft lessor Avolon.
The action was filed in New York last week on the same day Avianca took delivery of its first Airbus A320neo jet.
According to court documents, Dublin based Avolon agreed a 10-year contract in June 2014 for $849,000 a month plus other costs with Avianca.
"Over time, the lessee fell behind on its payment obligations under the lease," the lawsuit claims.
The airline is behind on $4.64 million in payments, it says.
Avianca is controlled by German and Jose Efromovich who have been seeking international backers for Avianca Brasil and Colombian business Avianca Holdings SA.
Both Delta and United Airlines have reportedly made non-binding offers for a 20% stake in the latter business.
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