U.S. court approves Avianca financing

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Since filing for Chapter 11 protection in May, Avianca has resumed flying in Colombia and to international destinations, including Miami and New York.

Colombia's Avianca Holdings has won approval from U.S. Bankruptcy court to access approximately $2 billion in debtor-in-possession financing.

The funds, the company said, will provide it with ample liquidity to continue operations as it works its way through a Chapter 11 bankruptcy reorganization.

"We continue to work on our go-forward operating plan in order to emerge from this process as a stronger and more efficient airline," the company said.

Avianca served 76 destinations in 27 countries prior to the Covid-19 crisis, making it the second-largest South American airline group. It filed for bankruptcy in May with flights grounded due to the pandemic.

Avianca has since resumed flights to 21 cities in Colombia as well as four international destinations, including Miami and New York. Flights to 10 other international cities, including Washington, are slated to begin Oct. 15.

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