Abra Group, the parent company of Avianca Airlines and GOL Linhas Aéreas Inteligentes, is seeking to restructure its USD1.5 billion bonds and has scheduled meetings with creditors and bondholders.
The company, which was established in 2022, is working with investment banker Rothschild Co to address its balance sheet issues.
GOL Linhas Aéreas previously hired Seabury Capital to review its capital structure and explore measures to improve liquidity and adjust its fleet. Avianca underwent Chapter 11 restructuring and has emerged with a stronger market position in Colombia.
