Colombia Forum

guestuser
Joined 2001
Posts: 5

4 years ago

Avianca

4 years ago

Avianca might be worth keeping an eye on. The stock is down another 6% today, and it’s down around 30% in the past couple of weeks. There are some mumblings about the potential for bankruptcy including articles on the radio. Rather bizarrely the main group that owns Avianca is meant to be showing an interest in the effectively bankrupt Jet Airlines in India.

Avianca have started to cut back on their schedule and they’re very noticeably pushing lifemile purchases, which brings in cash now for potential future flights.

What happens when ‘National’ Airlines go bust isn’t always clear but if Avianca did go out of business or restructure to be much smaller air fares both within Colombia and to destinations abroad would likely significantly increase.

Generally if you’ve used a credit card you’ll be good to get your money back on any prior purchases in the worst event although that refund might not cover the cost of replacement flights.

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Help others in Colombia by answering questions about the challenges and adventures of living in Colombia.