Tagsbankruptcy

Avianca secures US$2bn in funding as bankruptcy battle continues

Colombian flag-carrier Avianca has lined up a $2 billion bankruptcy-loan package to finance its stay in chapter 11. The cash has been sourced from a group of investors and lenders including United Airlines and chairman Roberto Kriete personally. One of the largest airlines in South America, Avianca sought bankruptcy protection in May and has since […]

Alitalia is up for sale, but who’s bidding?

After declaring bankruptcy in March 2017, the Italian flag carrier Alitalia is still on auction, struggling to find suitable bidders. Germany’s Lufthansa, British low-cost carrier EasyJet and U.S. private equity fund Cerberus are among companies that have already been named as potential buyers, while it appears that Air France-KLM prefers to bid incognito. The latest […]

Alitalia starts bankruptcy proceedings

Italy’s flag carrier Alitalia has started bankruptcy proceedings for the second time in the last ten years after its employees said ‘no’ to cuts that would have followed the $2.2 billion recapitalization plan purposed to save the struggling carrier. The airline’s shareholders have voted in favor of special administration, according to a statement issued on […]