Avianca's U-Turn

BY MIKE CEASER

BOGOTA —  An airplane may not be able to perform a U-turn. But Colombia's Avianca has proven that an airline can.

Colombia's Avianca demonstrated that with its dramatic rebound from bankruptcy to becoming one of the region's most vigorous airlines.

In 2003, battered by high fuel prices, a weak Colombian economy and the aftereffects of the 2001 terrorist attacks in New York and Washington D.C., Avianca declared bankruptcy. In the process, the company became a pioneer by filing Chapter 11 proceedings in the United States - reportedly the first time that a company has reorganized using an ancillary proceeding in a foreign jurisdiction rather than...

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Keywords: Airbus, Boeing, Synergy Aerospace Group, Tampa Cargo