Avianca airlines enters turbulence as revenues crash; seeks government protection

One of Latin America’s largest airlines filed for Chapter 11 bankruptcy protection Sunday in New York, saying the COVID-19 pandemic has devastated its business. READ: Mexico And Brazil Witness 99% Fall In Automobile Manufacturing; Certain Plants To Reopen Revenues crash, government protection to the rescue Avianca Holdings said in a statement that the move is aimed at continuing operations and preserving jobs when it is able to resume normal opeations following a global health emergency that has grounded 90% of global air traffic. It said its own consolidated revenues had been slashed by 80%. read: Elon Musk's Tesla Set To Resume Manufacturing Ops In Fremont Plant After Filing Lawsuit “The effects of the COVID-19 have brought us to face the most challenging crisis of our 100 years history as a company,” said Anko van der Werff, CEO of Avianca Holdings. The airline said it is in conversations about assistance with governments in countries where it operates, particularly Colombia, its home base. READ: Profits Up For Emirates Air, But Revenue Down Amid Pandemic The airline says it carries 30 million passengers a year and is direclty or indirectly responsible for 21,000 jos in Latin America, incliuding 14,000 in Colombia. READ: Uber, Monster Beverages Rise; TripAdvisor, Motorola Fall

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Avianca airlines enters turbulence as revenues crash; seeks government protection

The airline said it is in conversations about assistance with governments in countries where it operates, particularly Colombia, its home base.

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