May 12, 2020 / 1:56 PM / 13 days ago

Airline Avianca's shares fall 55.6% after declaring chapter 11 bankruptcy

BOGOTA, May 12 (Reuters) - Share prices for Colombia-based airline Avianca were down 55.6% to 200 pesos ($0.05) per share at the start of trading on Tuesday, two days after the company filed for bankruptcy. The airline filed on Sunday after failing to meet a bond payment deadline and as its pleas for assistance from Colombia’s government over the coronavirus crisis were met with a tepid response.

Shares in the airline closed at 450 pesos per share on Friday. ($1 = 3,901.34 pesos) (Reporting by Bogota Newsroom)

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