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AVH - Avianca Holdings SA News Story

$0.88 0.0  0.0%

Last Trade - 08/05/20

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.56bn
Position in Universe th / 6850

UPDATE 1-Panama's Copa Airlines cancels all flights as coronavirus crisis spreads

Fri 20th March, 2020 10:20pm
(Adds details about Colombia, Brazil)
    By Marcelo Rochabrun
    March 20 (Reuters) - Panama's Copa Airlines  CPA.N  on
Friday said it will suspend all operations from March 22 until
April 21, making it the first Latin American carrier to take
such a drastic measure in order to weather the coronavirus
crisis. 
    Air travel in Latin America has become heavily restricted in
recent days. Panama and Colombia announced the suspension of all
international travel to their countries on Thursday. 
    The restrictions in the region have left airlines scrambling
to sustain their operations and left many passengers stranded
without a viable way to get home. 
    Colombia's main carrier, Avianca Holdings  AVT_p.CN , said
on Friday that 5,000 employees, or about a quarter of its
workforce, would be taking unpaid leave. 
    Colombia has canceled all of its international flights and
84% of its domestic flights within Colombia. 
    Meanwhile, Brazil, Latin America's largest economy, remains
the odd country in the region. It has the least restrictive
regulations in place on air travel and its infrastructure
minister, Tarcisio Freitas, said on Friday that Brazil is not
planning to shut down any airports. 
    

 (Reporting by Marcelo Rochabrun; Additional reporting by Elida
Moreno
Editing by Chris Reese and Leslie Adler)
 ((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))
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