World’s ‘second oldest airline’ files for bankruptcy

Colombian airline Avianca filed for Chapter 11 bankruptcy in the US Southern District of New York on Sunday. (EPA/AAP)

Avianca, which was founded in 1919, claims to be the world’s second-oldest continuously running airline.

As of the end of last year, it was the third-largest airline in Latin America based on market share, after Chile’s LATAM Airlines and Brazil’s GOL Linhas Aéreas, according to Euromonitor.

The carrier is also part of the Star Alliance, the industry group that includes other big players such as Lufthansa and Singapore Airlines.

Last year, a holding company affiliated with United Airlines bought a majority stake in Avianca.

Avianca is the latest major airline to succumb to the loss of business from the pandemic, which has caused carriers to rip up their flight schedules, ground planes and put staff on unpaid leave.

Cre: 9news

Nguyen Xuan Nghia – COMM