LatinFinance announced the winners of its annual Deal of the Year awards, for which our client Avianca’s transaction was recognized with the Corporate Restructuring award, restructuring more than $1 billion in debt.
Through its offices in Guatemala, El Salvador, Honduras, and Costa Rica, BLP advised Latin American airline Avianca during its restructuring process.
Colombian airline, Avianca, filed for Chapter 11 protection in New York in May 2020 and sought to reduce its fleet due to the consequences of the Covid-19 pandemic. The company completed the restructuring process to obtain short-term financing and eliminate more than $1 billion. In October 2021, the airline received court approval for its restructuring plan in New York.
We thank our clients for trusting in us, and we proudly serve them as true business partners. As a result of our advice, Avianca has achieved a more efficient business model, which has enabled the airline to reaffirm its commitment to offering a reliable and timely service. Avianca continues to provide affordable travel for millions of passengers in Latin America.
We also thank the BLP team that has helped the client throughout the years: Diego Quirós, Gustavo Gamboa, Ivis Alvarado, José Miguel Álvarez, Julio Castellanos, Luis Vega, María Inés Arenales, Pablo Umaña, Vivian Liberman y Zygmunt Brett.