Avianca exits Chapter 11

Avianca has exited Chapter 11 bankruptcy protection after reaching agreements with its creditors, raising fresh investments of $1.7 billion, and obtaining approval for its plan of reorganization, emerging with a solid balance sheet, significantly reduced debt and over $1 billion in liquidity. After advancing through the Chapter 11 process in 18 months, Avianca has revamped its business model to be “more significantly more efficient, reaffirming its commitment to providing reliable and on-time service, combining a value proposition that includes the best attributes of low-cost airlines, while retaining key differentiators that allow it to be the most convenient travel alternative for