It says its key executives would have sought employment elsewhere without the extra pay. FMTNews Avianca Bankrupt
Avianca and most Latin American airlines did not receive govt bailouts like their peers in the US or Europe.
On Wednesday, Avianca defended the bonuses, saying they were necessary “as an incentive for the company’s management team to continue to provide services to Avianca”. Colombia’s government has, however, proposed a loan of more than US$300 million to help get Avianca out of bankruptcy. On March 18, just days after the coronavirus pandemic led to the cancellation of almost all air travel in Latin America, van der Werff and Neuhauser received US$3 million in bonuses combined.
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