Colombian carrier Avianca, the world's second-oldest airline, filed for bankruptcy due to the "unforeseeable impact of the Covid-19 pandemic," according to a statement released on its website on Sunday.
The decision to file for bankruptcy was made with the intention to "protect and preserve operations" during the continuing pandemic.
According to the statement, Avianca directly employs 21,000 people throughout Latin America. Nearly 90% of countries where Avianca operates are under total or partial travel restrictions, according to additional information on the Avianca website.
“Avianca is facing the most challenging crisis in our 100-year history as we navigate the effects of the COVID-19 pandemic,” said Anko van der Werff, the company's CEO.
According to Van der Werff, Avianca is the second-oldest continuously running airline in the world.