Viva Air has begun a local debt restructure ahead of a regulatory ruling on its proposed merger with Avianca.
The Colombian carrier said it had to start the debt restructuring due to being unable to access capital for nine months, which it said was because it had "not yet been able to finalise its merger with another airline".
"Viva accepts this voluntary recovery process that lasts 90 days, in order to restructure its debts through negotiation with its main creditors to continue operating under sustainable conditions," it added, pointing to the impact of Covid pandemic travel restrictions as further cause of its difficulties.