Avianca to cut fleet by 40 aircraft to recover from $2 bn bankruptcy

Colombia’s largest airline, Avianca Holdings SA, plans to add dozens of short-distance routes while reducing its fleet from 140 to 100 to be discharged from bankruptcy by the end of the year; Avianca’s CEO, Adrian Neuhauser, revealed. Last year, the airline raised $2 billion under its bankruptcy plan, including funds from United Airlines, Kingsland Holdings, and Citadel LLC.

Source: Portafolio