Colombia-based Avianca Holdings S.A. (NYSE: AVH) (BVC: PFAVH) has announced that all first day motions related to the company´s voluntary reorganization proceedings have been approved on an interim or final basis, the company said.
The approval came from the US Bankruptcy Court for the Southern District of New York. Collectively, the orders granted by the Court at the hearing will help ensure that Avianca continues normal business operations throughout the reorganization process.
The Court approved motions that will allow Avianca to protect employees and suppliers while also continuing to serve customers.
Avianca Holdings S.A. is the commercial brand for the collection of passenger airlines and cargo airlines under the umbrella company Avianca Holdings S.A. With a fleet of 158 aircraft, Avianca serves 76 destinations in 27 countries within the Americas and Europe.