China News Service, May 11 (Xinhua)-According to foreign media reports, on the 10th local time, Colombia Airlines, the second largest airline in Latin America, filed for bankruptcy in the United States because it failed to repay the bonds before the deadline.
The company said in a statement that it has filed for bankruptcy protection in a court in New York. According to reports, this will give the company time to restructure its debt or sell part of its business.
According to reports, affected by the epidemic, Columbia Airlines has suspended all passenger flights since late March. Most of its more than 20,000 employees can only take unpaid leave.
The company said in a statement that the grounding "has reduced the company's comprehensive income by more than 80% and caused significant pressure on capital liquidity."
The company's chief executive officer Anke van der Wilf said, "Columbia Airlines is facing the most challenging crisis in its 100-year history."
According to reports, the new crown epidemic has hit the global aviation industry hard. According to data from the International Air Transport Association, Latin American airlines will reduce revenue by 15 billion U.S. dollars in 2020, the most severe decline in Latin American aviation.