Avianca to get $200m loan promised by United, Kingsland

Latin American airline Avianca said Monday it will receive a $200m loan from controlling shareholders United and Kingsland Holdings Limited after it successfully exchanged hundreds of millions of dollars in bonds. The struggling airline can receive up to $175m in additional financing from shareholders and other third parties, Avianca said to Colombia’s financial regulator. United and Kingsland agreed to the loan, which should be made by around Oct. 15, on condition of a successful bond exchange which took place last month. United launched a management overhaul at Avianca in May, removing top shareholder German Efromovich from controlling the cash-strapped airline.<br/>