⁍ Colombia’s government said on Saturday it will extend up to $370 million in loans to Avianca AVT_p.CN.
⁍ The airline, which is Latin America’s No. 2 carrier, filed for bankruptcy protection in May.
⁍ If it fails to come out of bankruptcy, Bogota-based Avianca would be one of the first major carriers worldwide to go under.
– The Colombian government says it will provide $370 million in loans to keep the country’s second-largest airline running, Reuters reports. Avianca filed for Chapter 11 bankruptcy protection in the US in May. The government says the loan will provide “guarantees for service, air connectivity for Colombians, and general economic activity.” The loan will expire in November 2021.
Source: https://www.reuters.com/article/us-avianca-colombia/colombian-government-to-lend-struggling-avianca-up-to-370-million-idUSKBN25P0S1