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.

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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

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

Ana Castela presents new horses, attempts a 360-degree spin for the first time, and impresses fans with track-worthy technique.

Water can carry pesticides invisible to common treatment, but nanosensors developed by Brazilian researchers promise to speed up the alert before the risk reaches the tap.

Gases created to save the ozone layer have become a new global warning: substitutes for CFCs have already released more than 335,000 tons of a “forever chemical” onto the Earth as invisible rain, contaminating everything from tap water to Arctic ice.

When an asteroid appears without warning, ESA switches from emails to voice calls and speeds up alerts that can determine the response on Earth.

With declining production and exports at their limit, Argentina cuts vehicle tax to try to regain competitiveness and protect its pickups from the Chinese offensive.

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

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

With declining production and exports at their limit, Argentina cuts vehicle tax to try to regain competitiveness and protect its pickups from the Chinese offensive.

With 80.9% of families in debt, the state creates a new law against over-indebtedness to guide consumers, combat abusive practices, and encourage debt renegotiation.

Itaú holds an auction of 200 properties in June with prices starting at R$ 43,000 and discounts of up to 63%.

Brazil refuses to support the G7 text on critical minerals and rare earths, enters the heavy game of strategic inputs, and tries to escape the old trap of exporting raw wealth while rich countries keep the most profitable part.

São Paulo accelerates basic sanitation with R$ 70 billion until 2029, expands treated water, sewage, and promises to advance universalization four years ahead of the national deadline.

Ana Castela presents new horses, attempts a 360-degree spin for the first time, and impresses fans with track-worthy technique.

Water can carry pesticides invisible to common treatment, but nanosensors developed by Brazilian researchers promise to speed up the alert before the risk reaches the tap.

Gases created to save the ozone layer have become a new global warning: substitutes for CFCs have already released more than 335,000 tons of a “forever chemical” onto the Earth as invisible rain, contaminating everything from tap water to Arctic ice.

When an asteroid appears without warning, ESA switches from emails to voice calls and speeds up alerts that can determine the response on Earth.

With declining production and exports at their limit, Argentina cuts vehicle tax to try to regain competitiveness and protect its pickups from the Chinese offensive.