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PAC - Colombia Bails Out Avianca Airlines Revives Airport Operator Sureste's Bull Case
Grupo Aeroportuario Del Pacifico S.A. B. de C.V. de C.V.
The Colombian government recently decided to help rescue national flag carrier Avianca Airlines (formerly AVH on the New York Stock Exchange). Avianca filed bankruptcy earlier this year, and it was unclear if they would be able to resume normal operations.
However, Avianca has received financing. From the company's recent press release:
Avianca's DIP loan financing is expected to consist of two tranches that include approximately US$ 1.2 billion of new funds as part of a US$ 2.0 billion overall financing facility (including rollups of existing debt and purchase consideration) which will allow the Company