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 […]
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 […]
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 […]
