Com a maioria dos 20 mil funcionários sem pagamento, Avianca não resiste à crise e corre risco de falir

With Most of Its 20,000 Employees Unpaid, Avianca Cannot Withstand the Crisis and Risks Bankruptcy

Written by Flavia Marinho

Published on 11/05/2020 at 11:56

Com a maioria dos 20 mil funcionários sem pagamento, Avianca não resiste à crise e corre risco de falir

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Avianca Has Not Operated Regular Passenger Flights Since the End of March, and Most of Its 20,000 Employees Have Gone Without Pay During the Crisis Caused by the Coronavirus.

Coronavirus: Avianca, one of the oldest airlines in the world and the second-largest airline in Latin America, is at serious risk of bankruptcy due to the crisis caused by the coronavirus. Boeing Breaks $4.2 Billion Contract with Embraer, and the Union Calls for the Company to Be Re-nationalized

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In a filing with the U.S. Bankruptcy Court for the Southern District of New York on Sunday, the company estimates liabilities between $1 billion and $10 billion as the deadline for bond payments approaches and after unsuccessful requests for aid from the Colombian government to withstand the crisis caused by the coronavirus.

ARTICLE CONTINUES BELOW

Crisis at Avianca

In the Early 2000s, Avianca Already Went Through a Bankruptcy Process from Which It Was Rescued by a Bolivia-born Oil Entrepreneur, German Efromovich.

Although the Executive Aggressively Expanded the Airline, He Accumulated Significant Debts. Efromovich Disagrees with the Decision to File for Bankruptcy and Claims He Was Not Involved in It.

Despite Still Holding a Majority Stake in the Company, the Entrepreneur Was Removed from the Business in 2010 in a Board Coup Led by United Airlines Holdings Inc.

The United May Lose Up to $700 Million in Loans Related to Avianca. Meanwhile, the Airline Announced It Plans to Begin Reducing Operations in Peru.

With Most of Its 20,000 Employees Unpaid, Avianca Cannot Withstand the Crisis and Risks Bankruptcy

Avianca Has Not Operated Regular Passenger Flights Since the End of March, and Most of Its 20,000 Employees Have Gone Without Pay During the Crisis Caused by the Coronavirus.

Read Also

Crisis at Avianca

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

Few people know this, but a new type of brick created by students does not require high temperatures, uses human urine in the process, hardens in a few days, and also helps reduce pollution generated by the construction industry.

British tourist pays nearly R$ 10,000 for kebab in Copacabana and scandal reveals shocking scheme of scams against foreigners on the beaches of Rio de Janeiro.

Scientists discover unexpected climate benefit hidden in forest soils related to atmospheric methane absorption.

Scientists discover ancient geological process that created rare earth elements, and the discovery could help locate critical deposits.

Who is the owner of the largest mansion in Brazil, which resembles a shopping mall, costs around R$ 1 billion, and has 17,800 m² of built area in Alphaville?

With Most of Its 20,000 Employees Unpaid, Avianca Cannot Withstand the Crisis and Risks Bankruptcy

Avianca Has Not Operated Regular Passenger Flights Since the End of March, and Most of Its 20,000 Employees Have Gone Without Pay During the Crisis Caused by the Coronavirus.

Read Also

Crisis at Avianca

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

It’s not Argentina, Brazil, or Chile: this is the country that will grow the most in South America in 2026 with an impressive increase of 16.2% and progress well above the global average.

Brazil will arm armies in 148 countries with a new model that transforms the government into a guarantor of mega international military contracts, expanding power and exports in the defense sector.

A proposal that targets less than 0.001% of the population could unlock up to $24 billion per year in Latin America, and the detail behind this calculation is noteworthy.

Forgotten money: Brazilians still have R$ 10.55 billion to receive, and now it is possible to redeem it automatically via Pix with just a few steps.

The government will pay R$ 526 per month to federal outsourced workers with children in daycare, and the amount is the same as what civil servants already receive.

Few people know this, but a new type of brick created by students does not require high temperatures, uses human urine in the process, hardens in a few days, and also helps reduce pollution generated by the construction industry.

British tourist pays nearly R$ 10,000 for kebab in Copacabana and scandal reveals shocking scheme of scams against foreigners on the beaches of Rio de Janeiro.

Scientists discover unexpected climate benefit hidden in forest soils related to atmospheric methane absorption.

Scientists discover ancient geological process that created rare earth elements, and the discovery could help locate critical deposits.

Who is the owner of the largest mansion in Brazil, which resembles a shopping mall, costs around R$ 1 billion, and has 17,800 m² of built area in Alphaville?