Colombia’s national airline, Avianca, has filed for bankruptcy protection in a US court.
The carrier is the second-largest in Latin America, but its passenger operations have been grounded since March because of coronavirus.
It said the pandemic had cut more than 80% of its income, and it was struggling with high fixed costs.
If it fails to come out of bankruptcy, Avianca will be the first major airline to go under amid the pandemic.
In a statement, the firm said it had filed for Chapter 11 bankruptcy protection in a court in New York. The process postpones a US company’s obligations to its creditors, giving it time to reorganise its debts or sell parts of the business.
More than 140 of its aircraft have been grounded since Colombian President Ivan Duque closed the country’s airspace in March. Most of its 20,000 employees have been put on unpaid leave.
Behind KLM, Avianca is the second-longest continually running airline in the world.
Read more via BBC
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