T: (212) 530-5000 First Day Motions, Orders, and Notices, United States Bankruptcy Court
If you continue to browse, we understand that you accept our Cookie policy. Commerce Policy | Avianca itself underwent a Chapter 11 process in 2003 that allowed it to position itself for expansion in Latin America.
Avianca’s scheduled passenger operations have been grounded since mid-March, reducing its consolidated revenue by over 80% and placing significant pressure on its cash reserves. Milbank LLP In parallel to its Chapter 11 filing in the U.S., Avianca intends to commence a wind-down of its operations in Peru pursuant to local laws. Customers can redeem their awards through Star Alliance members, which gives our customers access to the routes, destinations and services of the full Star Alliance network. Quotes delayed at least 15 minutes.
Notice of Adjournment of Meeting of Creditors
For you to have a better experience, we recommend using Firefox, Google Chrome, Microsoft Edge or Safari. LifeMiles is Avianca's frequent flyer program. Through the plan, the Company redesigned its network with 130 routes to 76 destinations in 27 countries, adding to the launch of a new pricing model ”branded fares” in domestic markets in Ecuador and Colombia, including flights to and from Europe. These have included employee furloughs, temporary wage reductions, reductions in non-essential capital expenditures and temporary deferred payments on long-term leases.
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The Company expressly disclaims any obligation to update or revise this press release, including any forward-looking statements, whether as a result of new information, future events or otherwise. Avianca operates a “coalition loyalty program”; a loyalty card system, packaging customer benefits into a single customer loyalty program which offers our customers important incentives. Through its subsidiaries, Avianca Holdings S.A. provides domestic and international passenger transportation, both within the Colombia, Ecuador, Costa Rica, Nicaragua and Peru domestic markets as well as through international routes serving North, Central and South America, Europe, and the Caribbean. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy.
Avianca Holdings Initiates Voluntary Reorganization Proceedings to Preserve Operations.
Notice of Final Hearing, Notice of Adjournment of Meeting of Creditors
This decision supports essential right-sizing efforts and will allow Avianca to renew its focus on core markets upon emergence from its court-supervised reorganization.
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In no event shall KCC be liable to you or any third party for any direct, indirect, incidental, consequential or special damages (including, but not limited to, damages arising from the disallowance of a potential claim against a client of KCC or damages to business reputation, lost business or lost profits), whether foreseeable or unforeseeable and however caused, even if KCC is advised of the possibility of such damages. Each ADR represents 8 preferred shares. Avianca Holdings S.A.’ first issuance (IPO) on the Colombian Stock exchange took place on March 14th, 2011. Try words like flights, offers, fares or destinations in the search field. To change a country or language, confirm a selection through the Enter button and browse this page through the vertical arrows. c/o KCC Southern District of New York El Segundo, CA 90245
About Avianca Holdings S.A. (OTCMKTS: AVHOQ) (BVC: PFAVH) Avianca is the trademark for the group of passenger airlines and cargo airlines under the holding company Avianca Holdings S.A. Avianca has been flying continuously for 100 years.
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The Company expressly disclaims any obligation to update or revise this press release, including any forward-looking statements, whether as a result of new information, future events or otherwise.
Our customers can be confident that they can continue to depend on Avianca for safe, reliable and high-quality service, and our valued LifeMiles™ members can expect to accrue and redeem miles as normal,” Mr. Van der Werff continued.
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“Despite the positive results yielded by our ‘Avianca 2021’ plan, we believe that, in the face of a complete grounding of our passenger fleet and a recovery that will be gradual, entering into this process is a necessary step to address our financial challenges.”.
Otherwise you can search in the menu. With a fleet of 158 aircraft, Avianca serves 76 destinations in 27 countries within the Americas and Europe.
Readers are cautioned not to put undue reliance on such forward-looking statements. In 2011 AviancaTaca listed its shares in the Bolsa de Valores de Colombia (“BVC”), under the ticker “PFAVTA: CB”.
As part of the process, Avianca has presented various motions before the Court in support of its reorganization and the Company expects the court to decide on these requests in the coming days. Readers are cautioned not to put undue reliance on such forward-looking statements. Through the Chapter 11 reorganization process, Avianca intends to: “Avianca is facing the most challenging crisis in our 100-year history as we navigate the effects of the COVID-19 pandemic,” said Anko van der Werff, Chief Executive Officer of Avianca. Throughout the court-supervised process, Avianca intends to: Avianca continues to be engaged in discussions with the government of Colombia, as well as those of its other key markets, regarding financing structures that would provide additional liquidity through the Chapter 11 process and play a vital role in ensuring that the Company emerges from its court-supervised reorganization as a highly competitive and successful carrier in the Americas. We greatly appreciate the dedication of our employees to Avianca and to serving the more than 30 million passengers that fly our airline each year.
Actual results may differ materially from those projected in this press release for numerous reasons, including factors outside of the Company's control. You must click the link in the email to activate your subscription. Avianca Holdings S.A. Receives U.S. Court Approval to Access US$ 2.0 Billion Debtor-In-Possession (“DIP”) Financing, Avianca Holdings S.A. As of December 2019, the Company had over 21,000 employees, operated a fleet of 158 aircraft and served 76 destinations in 27 countries within the Americas and Europe. The filing was necessitated by the unforeseeable impact of the COVID-19 pandemic, which has resulted in a 90% decline in global passenger traffic and is expected to reduce industry revenues worldwide by $314 billion, according to the International Air Transport Association. However, just as is the case with other airlines around the world, Avianca’s operations have been dramatically impacted by the COVID-19 pandemic and resulting government-mandated air travel restrictions, while the Company continues to have high fixed costs. Avianca has limited visibility as to when current travel restrictions will be lifted and, once such restrictions are lifted, it does not expect revenues to return to pre-pandemic levels in the short-term as the effects on travel are expected to be long-lasting.
NIT 890.100.577-6.
Forward-Looking Statements Avianca has included statements in this press release that constitute "forward-looking statements".
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