Avianca to pack more seats into planes as part of recovery plan, CE says
Avianca will look to increase the number of passengers it can fit into a plane without enlarging its fleet as part of its efforts to overcome ongoing financial problems, its CE said Thursday. A video was released on social media this week showing president of the board Roberto Kriete telling employees that the airline was "broke." The airline said the video was obtained illegally and denied that it was in a bankruptcy or insolvency process. "We do not want to enter Chapter 11, obviously the negotiations on which we have focused seek to avoid having to ask for help from the courts or help from regulators and simply to reach deals that...allow us to pay everyone who we owe," CE Anko van der Werff said. Avianca is asking investors to exchange US$550m in bonds that come due in 2020, part of a plan to change its capital structure. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-08-30/star/avianca-to-pack-more-seats-into-planes-as-part-of-recovery-plan-ce-says
https://portal.staralliance.com/cms/logo.png
Avianca to pack more seats into planes as part of recovery plan, CE says
Avianca will look to increase the number of passengers it can fit into a plane without enlarging its fleet as part of its efforts to overcome ongoing financial problems, its CE said Thursday. A video was released on social media this week showing president of the board Roberto Kriete telling employees that the airline was "broke." The airline said the video was obtained illegally and denied that it was in a bankruptcy or insolvency process. "We do not want to enter Chapter 11, obviously the negotiations on which we have focused seek to avoid having to ask for help from the courts or help from regulators and simply to reach deals that...allow us to pay everyone who we owe," CE Anko van der Werff said. Avianca is asking investors to exchange US$550m in bonds that come due in 2020, part of a plan to change its capital structure. <br/>
