Outbreak of the coronavirus disease (COVID-19), in BogotaMore

By Marcelo Rochabrun

SAO PAULO (Reuters) – The financial auditors of Colombian airline Avianca Holdings <AVT_p.CN> have concluded that “substantial doubt” exists as to the company’s ability to stay in business due to the coronavirus crisis, the carrier said.

The disclosure was made in a securities filing on Thursday with the U.S. Securities and Exchange Commission explaining why Avianca was unable to file its 2019 annual report on time.

Avianca said it will file the report in June and expects to disclose the conclusion made by accounting firm KPMG that there were serious questions about the airline’s “ability to continue as a going concern.”

Avianca, Latin America’s second-largest airline, has grounded all its passenger flights since March due to the

Read More At Article Source | Article Attribution