Airline Avianca: The World’s Second Oldest Airline ‘Avinka’ Reached The Brink Of Bankruptcy, The Company Blames Corona-crisis.
The world’s leading international airlines, Avianca, have filed a Chapter 11 bankruptcy form in New York on due to the coronavirus epidemic. The company has attributed the corona to these conditions. Airlines all over the world are undergoing problems due to lockdown because of coronavirus. The airline says its fleet has 189 aircraft, which operated about 700 flights a day.
World’s second-oldest airline is Avianca
Avianca was founded in 1919 and claims to be the world’s second oldest continuously running airline services. According to Euromonitor, it was the third largest airline in Latin America by the end of last year after Chile’s Latam Airlines (LATAM) and GOL Airlines. Avianca employs 21,000 people directly across Latin America, including more than 14,000 in Colombia, where it serves as the country’s national carrier.
There was also a bankruptcy problem in the 2000’s
According to the company, such an adverse situation has never been created in the last 100 years. Earlier, Avianca was reeling under the problem of bankruptcy in the early 2000s.
Aviation sector in India suffers loss of Rs.150 crore daily
The aviation sector in the country is losing more than Rs. 150 crores daily due to coronavirus. About 4,000 domestic and 500 international flights are operated daily in the country. In Delhi alone, more than 900 flights are operated daily. The Indian aviation industry is likely to lose more than 75 to 80 thousand crore rupees. Because of this, the revenue may also fall to 40%. A DGCA official says that a day’s domestic and international flights in the country before the corona crisis was about Rs. 350-400 crore, which is now almost half.
