Thursday 1 June 2023

What’s happening at Avianca?

Stocks suffer sharp decline this Thursday, but there is an explanation

Paying the bills

Latest

Man sentenced to 35 years in prison for murder of ex-wife

QCOSTARICA - The Criminal Court of Santa Cruz, Guanacaste,...

Costa Rica’s “most sold newspaper” is no more!

QCOSTARICA - Grupo Extra announced on Wednesday that they...

Bilingualism inserts professionals in global markets

QCOSTARICA - In today's interconnected world, having bilingual skills...

Millions Left Unclaimed in Costa Rica’s Christmas Lottery

Participating in the chaos of the Gordo Navideño, which...

Costa Rica Fashion Week is gearing up for its 2023 edition

QCOSTARICA - Under the slogan "forever green", the Costa...

US Embassy San Jose will hold two ‘Super Saturdays’ in June

QCOSTARICA - The United States consulate in Costa Rica...

Dollar Exchange

¢539.05 BUY

¢546.19 SELL

1 June 2023 - At The Banks - Source: BCCR

Paying the bills

Share

W Radio reported that, on Thursday (August 15, 2019), the company’s shares fell 10% on the Colombian Stock Exchange and 5% on the New York Stock Exchange.

“There are very strong rumors of the ‘shock’ operation that would occur at this time to save Avianca,” said Julio Sánchez Cristo, Today Colombia reports.

- Advertisement -

The news was given in the middle of the presentation of Avianca’s financial results, in which it announced that it lost US$476 million during the first half (January-July) of 2019, according to Dataifx figures.

Because of this situation, the company revealed the launch of a debt renewal to exchange US$550 million dollars in bonds (in colloquial terms are business bills of exchange) with a maturity to 2020 and which, in addition, the company will give its brand as a guarantee to refinance debt.

In this regard, El Tiempo clarified that the operation will also include the company’s intellectual property rights, several aircraft of Avianca Colombia or Taca (subsidiary airline) and the residual interest in all the aircraft owned.

The airline is currently implementing the “Avianca 2021” plan, which seeks to improve operational efficiency, strengthen the company’s financial position and liquidity. In addition, in line with this plan the company decided to sell 24 aircraft of the fleet.

 

- Advertisement -
Paying the bills

Related Articles

Uncertainty in Colombian airports after Viva Air grounds fleet

Q24N - Viva Air, Colombia's indebted low-cost carrier, temporarily suspended operations...

LACSA ‘returns’ to the skies of Central America

QCOSTARICA - The colors and logo of the Costa Rican airline...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: