Justice accepts Avianca's request for judicial recovery


The Company accumulates a debt of R$493.8 million and was being sued for non-payment of an aircraft lease.

The Court of Bankruptcy and Judicial Restructuring in São Paulo accepted on December 13th the recovery request filed last Monday (10) by Avianca Brazil, the fourth-largest airline in the country.

In the decision, Judge Tiago Henriques Papaterra Limongi said that "although the company is not among the market leaders, its participation is far from irrelevant, so that the injury to the Brazilian air transport system is intuitive and must not be forgotten, to a considerable number of clients of the company, if it fails to provide its services regularly. "

In a statement, the company said that "with the approval, its operations and passengers are preserved".

The company has accumulated a debt of R$ 493.8 million, according to the newspaper Valor Econômico. In the second quarter, it recorded a loss of R$144.6 million.

Indebted, Avianca was being judicially sued for non-payment of aircrafts lease. In only one case, it was accused of failing to pay instalments of 11 aircraft.

With the request for recovery, Avianca wanted to prevent the planes from being picked up again, which, according to the company, threatened the journey of some 77,000 passengers in December.

The company claims to currently operate with 54 aircraft and 5,500 employees.

If your company holds any credit against Avianca, it is extremely important to check if your debt features on the creditor's list of the judicial recovery request, to prove and claim it before the creditors general meeting takes place.

Rhein International has a strong team specialized in judicial recovery claims. Contact us, get all your questions answered and receive the necessary assistance to protect your credit as soon as possible.

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