Court approval for Avian Lineas Aereas ́ reorganization plan
On November 26, Buenos Aires ́ commercial Court no. 26 approved the payment plan presented by Avian Líneas Aéreas (“Avian”) in its Concurso Preventivo (reorganization proceeding).
Avian filed its reorganization proceeding in the second semester of 2019 and, although it ceased operations since then, it has maintained its structure and facilities at Buenos Aires ́ Newbery Airport, in order to resume operations in the next months.
Until mid-2019 Avian operated two ATR-72/600 attending regional markets, an underdeveloped sector of the Argentine airline industry.
Fargosi Abogados assisted and advised Avian during its restructuring process that took place during challenging times for the airline industry.
Buenos Aires, November 2021.