Colombian airline Avianca reports $283.5 mn third-quarter net loss

Avianca Holdings – which went into restructuring after declaring bankruptcy under U.S. Chapter 11 law in May – recorded a net loss of $283.5 million in the third quarter, compared with a loss of $40.1 million in the year-earlier period. Income during the three months ended Sept. 30 fell to $206.9 million, down from $1.2 billion in the third quarter of 2019. Avianca’s scheduled passenger operations have been affected (by the coronavirus pandemic) since mid-March, reducing its consolidated revenues by more than 73%.

Source: Reuters