Avianca emerges from Chapter 11
Avianca has successfully completed its financial restructuring process and emerged out of Chapter 11.
It says it is now a more efficient and financially stronger airline, with significantly reduced debt and over $1 billion of liquidity.
After advancing through the Chapter 11 process in 18 months, Avianca has revamped its business model.
Rohit Philip, Chief Financial Officer of Avianca, said: "This is an important day for Avianca and all of our stakeholders. We are pleased to be emerging successfully from this process, with Avianca in a stronger financial position to continue serving our customers."
Adrian Neuhauser, President and Chief Executive Officer of Avianca, said: "We appreciate the support of our loyal customers, partners, and lenders throughout this process. I would also like to thank our dedicated employees for their commitment to providing uninterrupted service to our customers and whose hard work enabled us to complete this process efficiently.."
Looking ahead, Avianca will continue to adjust its products and services to the needs of its customers:.
The airline will continue to fly the Dreamliner, and will continue to be supported by Star Alliance.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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