U.S. bankruptcy court approves airline Avianca’s financing plan

FILE PHOTO: An airport employee waves a Salvadoran flag in front of an Avianca Airlines aricraft before the reopening ceremony at the Mons. Oscar Arnulfo Romero International Airport, as the spread of the coronavirus disease (COVID-19) continues, in San Luis Talpa, El Salvador September 19, 2020. Picture taken September 19. REUTERS/Jose Cabezas

October 5, 2020

SAO PAULO (Reuters) – Colombian airline Avianca Holdings <AVT_p.CN> said on Monday that a U.S. bankruptcy court approved a proposed financing plan of over $2 billion to help the carrier exit Chapter 11 restructuring.

The airline filed for bankruptcy protection in May, pushed over the edge by the coronavirus pandemic, but it had been struggling in recent years.

(Reporting by Marcelo Rochabrun; Editing by Leslie Adler)

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