Avianca, one of Latin America’s largest airlines, filed for Chapter 11 bankruptcy in the U.S. Southern District of New York. Avianca blamed the bankruptcy on the “unforeseeable impact of the COVID-19 pandemic,” begging the question of which airline is next? Virgin Australia faced a similar situation last month after failing to obtain a government bailout; Flybe, based out of the United Kingdom, entered administration citing an inability to withstand the pandemic; and the future of South African Airways hangs in the balance in the face of years of financial uncertainty and the outbreak. All airlines in Latin America could be looking at a similar fate without a government bailout.
According to a recent MarketWatch article, Boeing’s David Calhoun, chief executive, estimated it could take three to five years for the industry to recover to pre-pandemic levels. It is estimated airlines have distributed $10 billion in vouchers since March, but with the threat of bankruptcy looming, there are no guarantees for consumers either.
Avianca, founded in 1919, positioned itself as the world’s second-oldest continuously running airline. In 2019, it was third-largest airline in Latin America and is part of Star Alliance. A holding company affiliated with United Airlines bought a majority stake in Avianca last year. The bankruptcy decision was made to “protect and preserve operations.” The airline will also shut down its business in Peru. Avianca usually has 189 planes in its fleet, and the shutdown reduced its revenue “by over 80 percent and placing significant pressure on its cash reserves.”
Are you worried about your preferred carrier’s fate following the COVID-19 pandemic? Tell us about it. Email us at [email protected] Please include your full name and location.
Travelers interested in the trend of forest bathing have a new resource at their disposal. Forest Bathing Finder is an all-in-one website that connects forest bathing walkers with trained guides. Forest bathing guides list qualifications and venues, routes, walks and payment requirements for browsing forest bathers to then peruse.
Looking for a truly unique travel experience and considering a new vehicle? The Volvo Overseas Delivery Program is the perfect solution to create your own adventure of a lifetime. Volvo allows you to custom order your new automobile tailored to fit your needs and desires. They will fly you to Sweden to pick up your Volvo so you can drive and explore Scandinavia and Europe on your terms for up to two weeks.
At FXExpress Publications, Inc., we can’t wait to #ComeBacktoTravel, and we can’t wait for the travel industry and others to #ComeBacktoGT. Take a visual journey through Japan with us.
THERE’S NO DOUBT 2020 HAS BEEN AN UNPRECEDENTED year for the travel industry. As borders begin to reopen and destinations, hotels and airlines around the world prepare to welcome travelers once again, we’re celebrating travel and looking to the future as we congratulate the winners of our eighth annual Leisure Lifestyle Awards. This annual survey honors the best in the world of leisure and lifestyle travel, awarding goods, services, destinations, hotels, airlines and cruises.
Finding a beachfront Punta Cana all-inclusive resort for all ages can be daunting when you want to take home great memories with loved ones but also experience a sophisticated escape. Now, you can have both thanks to a new resort: Finest Punta Cana.
Best Western Hotels & Resorts opened its third Aiden by Best Western. The Aiden brand is designed to give travelers boutique, modern, stylish and locally inspired stay experiences. The new property is situated in Warm Springs, Georgia, adjacent to the Warm Springs Hotel and Event Center.
Paul Gauguin Cruises offers savings up to $3,050 per person on select voyages when booked by July 8. Round-trip airfare between Los Angeles (LAX) and Papeete (PPT), Tahiti, is included. Deposits for the select sailings have been reduced to $250 per person.
United Airlines’ environmentally friendly efforts lessen the impact on local U.S. communities.
Through Sept. 7, guests at M Resort Spa Casino in Las Vegas can enjoy the No Resort Fee Summer promotion. The resort will waive daily resort fees on all reservations, and guests can also take advantage of summer rates beginning as low as $75 per night. Book online or by calling 877 673 7678.