Shares of Avianca Holdings have tumbled 45% over the past week as the Colombian airline prepares a bankruptcy exit plan that will likely make the stock worthless. The air carrier, which was driven into Chapter 11 during last year’s pandemic and travel bans, fell 6% in Bogota trading Monday, extending losses for a fifth day, according to data compiled by Bloomberg. Shares were trading around 119 pesos (about 3 cents) on Monday. A US judge will consider the airline’s Chapter 11 exit proposal, which includes potentially converting some of its bankruptcy loans into equity in a reorganized holding company, according to a regulatory filing. “Under the Chapter 11 plan, the value of the shares of the company would be reduced to zero, due to the decrease in equity of the company attributable to the debtors’ liabilities to third parties and creditors, as well as the injection of capital by new investors pursuant to the Chapter 11 plan,” the filing said. The hearing is scheduled for Sept. 14.<br/>
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Singapore Airlines said Monday its Boeing 737 MAX pilots will undergo "additional training" after a suspension on operating that specific model in Singapore was lifted. "In the coming weeks, they will undergo additional training to familiarise themselves with the new enhancements from Boeing, the flight control software, as well as any situations that they might face during the flight," a SIA spokesperson said. Every pilot must complete a comprehensive training programme, which includes computer-based learning as well as simulator training, the spokesperson added. SIA said it has also "proactively completed" technical modifications and software upgrades to its 737 MAX aircraft, and conducted operational readiness flights in Alice Springs, Australia, in accordance with relevant US FAA airworthiness standards introduced in November 2020. The airline has progressively flown its six 737 MAX planes back to Singapore from Alice Springs where they were parked after the Civil Aviation Authority of Singapore grounded the model in March 2019. When asked when SIA might resume its 737 MAX flights and on which routes, the spokesperson said further details would be announced at a later date.<br/>
Air New Zealand has boosted its schedule, reopened some airport lounges, and resumed valet services as the nation transitions into Alert Level 2 restrictions amid a curb in the current COVID-19 outbreak. Under the new restrictions – which will go into effect 11:59pm Tuesday – all regions except Auckland will be able to return to school, offices, businesses, and regional travel will reopen again. “It’s encouraging to see the rest of NZ move to Alert Level 2,” said Air New Zealand chief customer and sales officer Leanne Geraghty. “Our customers can expect to see our lounges in Wellington, Christchurch, and the regions reopen; and valet services resume in Christchurch.” She said that in line with the government announcements, the lounges will operate at a capacity limit of 50 people. “We’re looking forward to giving customers across New Zealand a warm Air New Zealand welcome soon,” Geraghty said.<br/>