Air Transport World

Avianca.(Latin America/Caribbean Report)(Brief Article)

Avianca emerged from Chapter 11 bankruptcy protection Dec. 10 after a 21-month reorganization process that saw the company, with the aid of the Seabury Group as financial adviser, restructure $238 million in financial obligations and reduce its aircraft and lease obligations by $70 million.

Entrepreneur German Efromovich and his business group Sinergy/Ocean Air of Brazil have injected the first tranche of a total $63 million recapitalization, which is scheduled to be completed in 13 months. …

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