Viva Colombia files for bankruptcy protection

The low-cost airline Viva Colombia had to apply for bankruptcy protection proceedings under Colombian law due to the severely tense financial situation. Just a few days ago it became known that there was a lack of money had to shorten the route network.

Actually one wants to merge with the competitor Avianca. The test procedure has been up in the air for some time. The competitor Jetsmart has in the meantime shown interested as a possible buyer for Viva Columbia.

Viva Colombia announced that the bankruptcy protection procedure had been applied for voluntarily. This should make it easier for the company to negotiate with creditors and a possible takeover by a competitor or investor.