U.S. Court Approves $2 Billion Plan for Bankrupt Avianca Airline

Bogota (dpa) – A US bankruptcy court has approved a 2-billion-dollar financing package for the Latin American airline Avianca Holdings, which filed for bankruptcy protection in May, Avianca said on Monday.

The court approval was "an important step forward" for Avianca, its chief financial officer Adrian Neuhauser said.

Avianca's financial difficulties had started even before the coronavirus pandemic, which led to a plunge in passenger demand.

The Bogota-headquartered airline has now relaunched flights to dozens of Colombian and international destinations.

Avianca has appealed a court injunction preventing the disbursement of a 370-million-dollar bailout from the Colombian government.

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