Avianca Holdings SA, Latin America’s second-largest airline, filed for Chapter 11 bankruptcy on Sunday, as a bond payment deadline loomed and after unsuccessfully pursuing emergency aid from Colombia’s government to survive the coronavirus crisis. Avianca estimated liabilities between $1 billion to $10 billion in a filing with the U.S. Bankruptcy Court for the Southern District of New York. “Avianca is facing the most challenging crisis in our 100-year history,” CEO Anko van der Werff said in a press release. …read more
Source:: Yahoo Finance
