Avianca closes on $250 million loan from United Airlines and Kingsland Holdings

United Airlines and Kingsland Holdings have finalised documentation of the stakeholder loan of up to $250 million for Avianca in a bid to stabilise the struggling airline. On November 1, Avianca already met one of the conditions precedent required with the closing of the exchange offer of its $550 million Bond. The CFO of Avianca Holdings S.A., Adrian Neuhauser stated: “We continue to work on quickly finalising negotiations with our creditors and fulfilling the conditions necessary to conclude the debt reprofiling, in order to expeditiously close the stakeholder loan.” The loan conditions agreed to in October consist of a four-year