BOGOTA – Latin American airline giant Avianca is hoping to sail into smoother skies after a Chapter 11 bankruptcy filing – but it will take more to keep the region’s second largest carrier afloat.
Colombian Finance Minister Alberto Carrasquilla signaled Monday that a government loan isn’t off the table, though the nation is strapped for cash and might be limited in how much it can offer. “We are looking for a way to be a piece of the solution,” he told BLU Radio. “The problem will require giving cash at some moment, for sure.” Avianca is Colombia’s largest airline and has seen revenue plummet as key markets shut down all air travel.