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News / Avianca goes into Chapter 11, but air freight services will continue

first_img© Swisshippo By Alex Lennane 11/05/2020 Avianca has joined airlines like South African Airways and Virgin Australia in seeking to significantly restructure – or end – its business.It has initiated proceedings under Chapter 11 of the US bankruptcy code, “necessitated by the unforeseeable impact of the Covid-19 pandemic, which has resulted in a 90% decline in global passenger traffic and is expected to reduce industry revenues worldwide by $314bn”.The Bogota-headquartered carrier grounded its passenger operations mid-March, cutting revenue by more than 80% and “placing significant pressure on its cash reserves”.Its cargo operations are continuing, however, and said Chapter 11 would allow it to protect and maintain operations, drive investment in Colombia, preserve jobs and restructure the balance sheet to enable it to handle the effects of Covid-19.center_img “Avianca is facing the most challenging crisis in its 100-year history,” said CEO Anko van der Werff“Despite the positive results yielded by our ‘Avianca 2021’ plan, we believe that, in the face of a complete grounding of our passenger fleet and a recovery that will be gradual, entering into this process is a necessary step to address our financial challenges.”Avianca said it had already taken significant steps to protect its business and staff, including employee furloughs, temporary wage reductions, reductions in non-essential capital expenditures and temporary deferred payments on long-term leases.It said, however, that the effect of the pandemic would be “long-lasting”, and together with existing “substantial financial obligations” had forced it to seek alternatives.It said that in parallel to its US Chapter 11 filing, it intends to wind-down its operations in Peru.“This decision supports essential right-sizing efforts and will allow Avianca to renew its focus on core markets upon emergence from its court-supervised reorganisation,” it said.Avianca is also seeking financial support from the governments of countries where it “provides essential services”.It is engaged in talks with the Colombian government, “as well as those of its other key markets, regarding financing structures that would provide additional liquidity through the Chapter 11 process and play a vital role in ensuring that the company emerges from its court-supervised reorganisation as a highly competitive and successful carrier in the Americas”.The carrier claims last year’s Avianca 2021 plan has brought “significant positive results”. It redesigned its network, concluded a successful out-of-court re-profiling of its financial debt and lease obligations and raised $375m in new financing.last_img read more

Planning Commission to hear alcohol application for Broad Stage facility

first_imgTags :affordable housingalcoholcommissiondaily pressNewsOcean Aveplanningplanning commissionsanta monica newssanta monica planningshare on Facebookshare on Twitteradd a commentD-backs beat slumping Dodgers 3-1 in 10 for 12th straightSuspect threatens employees with a taserYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall11 hours agoNewsCouncil picks new City ManagerBrennon Dixson21 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter21 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor21 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press21 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press21 hours ago HomeNewsPlanning Commission to hear alcohol application for Broad Stage facility Sep. 06, 2017 at 6:20 amNewsPlanning Commission to hear alcohol application for Broad Stage facilityMatthew Hall4 years agoaffordable housingalcoholcommissiondaily pressNewsOcean Aveplanningplanning commissionsanta monica newssanta monica planning  When the Santa Monica Planning returns to work Wednesday night, they will hear a new round of alcohol permit applications and a proposal for a new 12-unit building on Ocean Ave.The alcohol applications cover two new restaurants and an existing performance space while the housing project seeks to redevelop a landmarked property.The first alcohol application is the site of the former Hennessey + Ingalls bookstore at 214 Wilshire. The space is currently vacant and a previous alcohol license for the space has expired. A new application has been filed for a 9,513 square feet restaurant/liquor store (Wally’s Wine and Spirits) adjacent to the California Pizza Kitchen.“The proposed floor plan contains approximately 9,513 square-feet (4,994 square feet of restaurant space and 4,519 square feet of retail area),” said the staff report. “Wally’s Wine and Spirits specializes in unique and high quality wines and spirits. They have recently expanded their operation to include a selection of food items. Their Beverly Hills location has further expanded to include on-site dining. Like their Beverly Hills location, the new operation on Wilshire will offer a full-service menu, which includes breakfast, lunch and dinner items. The restaurant portion of the operation will total 4,994 square feet, with a patron area of 2,845 square feet. The patron seating will total 185, including 149 seats on the main floor and 36 seats in a private mezzanine dining/bar area.”No outdoor seating area, dance or live entertainment areas are proposed for the restaurant. According to the report, the retail space/floor plan includes 4,519 square feet of wine, liquor and deli retail area located on the first floor. The mezzanine area will consist of 1,211 square feet with a 188 square foot bar, 445 square feet of private dining and 578 square feet of retail storage.Staff are recommending approval of the license.The second is for the sale of alcohol at the Broad Stage and adjacent facilities. The Stage is part of the Santa Monica College Performing Arts Center at 1310 11th Street. In addition to The Broad, the location houses the smaller Edye black box theater the East Wing Concert Hall and the Barret Art Gallery. The application is to allow beer and wine sales in conjunction with performances and events and in some cases in the outdoor spaces adjacent to the performance space.Alcohol has already been available at the location through special daily licenses with no complaints and according to the application, a standing license would streamline operations. Staff are not making a yes or no recommendation on the application but they do conclude the proposed license would be consistent with the City’s zoning rules.The third proposal is for a new brewpub/tasting room (The Dudes’ Taproom Brewing Company) on the third floor of the Santa Monica Place mall.“The applicant requests approval of a Conditional Use Permit (CUP) to allow for the operation of a 175-seat (116 interior seats and 59 outdoor patio seats) beer sampling/tasting room offering on-site and off-site sale and consumption of craft beer,” said the report. “A Type 23 (Small Beer Manufacturer or Microbrewery) alcohol license is being requested. The use would operate in conjunction with a restaurant within an existing 3,794 square foot tenant space on the third floor of the Santa Monica Place mall formerly occupied by Pizza Antica.”The beer would be brewed offsite (in Torrance) and transported to the restaurant in kegs.Staff are recommending approval of the license.The Commission will also hear an application to redevelop a landmarked property on Ocean Avenue.“The project at 423-429 Ocean Avenue proposes new construction of a two- three- and four-story, 12-unit condominium development with three new buildings, a landscaped courtyard, and subterranean parking improvements built in approximately the same footprint as the three extant City Landmark designated residential structures on site,” said the staff report.The developers are proposing to keep several of the sites “defining features” such as the courtyard, portions of the original buildings and specific architectural details.Affordable housing requirements will be met by two on-site ownership units (two-bedroom) for moderate-income households and a fee for the remaining 0.4 fractional unit obligation.Planning Commission meets on Wednesday, September 6 at 7 p.m. in City Hall, 1685 Main St.last_img read more

Odds & Ends: Neil Meron to Produce Netflix Adaptation of Jason Robert Brown’s 13 & More

first_img View Comments Bernadette Peters to Sing Out at Broadway Belts for PFF! BenefitStage legend Bernadette Peters is among the slate of stars newly announced to perform at the 10th edition of Broadway Belts for PFF!, a benefit for the Pulmonary Fibrosis Foundation. The previously announced event, hosted by Julie Halston and directed by Carl Andress, will take place on February 24 at the Edison Ballroom. In addition to Peters, newly announced performers include J. Harrison Ghee, Jason Gotay and Sierra Boggess. They join the previously announced Annaleigh Ashford, Charles Busch, Beth Malone, Caissie Levy and New York Yankees legend Bernie Williams. For more information on the fundraiser, click here.David Rabe’s Breathing In, Directed by Sarna Lapine, Added to NY Stage & Film SeasonBreathing In, a new play by Tony-winning playwright David Rabe (Sticks and Bones), will receive a brief run as part of the New York Stage & Film season. Sarna Lapine, currently represented off-Broadway by Dracula, will direct the performances, set to run from February 2-7 at The Lark. In Breathing In, when the knock on James Eldridge’s door opens on his past, he’s not sure he recognizes it. Lizzy Ramsey, who he dated 50 years ago in college, is there, hoping for something not even she understands; will they find it? To see the full upcoming New York Stage & Film lineup, click here.Barrington Stage Company Adds Arthur Miller’s The Price to 2020 SeasonThe Berkshires’ Barrington Stage Company has announced a new production of Arthur Miller’s Tony-nominated 1968 drama The Price as the closer to its 2020 summer season. BSC Artistic Director Julianne Boyd will direct the production, set to run from October 1-18 on the Boyd-Quinson Mainstage. Set three decades after the Great Depression, The Price follows Victor as he returns to his childhood home to sell the remainder of his parents’ estate. Joining him at the house are his wife, his estranged brother and a scheming furniture dealer. With each of their agendas at odds, Victor must challenge his notion of sacrifice. Casting will be announced at a later date. View All (5) Star Files Lesli Margherita Here’s a quick roundup of stories you might have missed recently. Neil Meron to Produce Netflix Adaptation of Jason Robert Brown’s 13Tony nominee Neil Meron has been recruited as producer of the upcoming screen adaptation of 13, according to Variety. Tamra Davis will direct the previously announced film version of the 2008 Broadway musical, which will feature a screenplay adapted by Tony winner Robert Horn (who wrote the musical’s book) and the Broadway score of Tony winner Jason Robert Brown. Meron is known in Broadway circles for producing high-profile revivals of How to Succeed in Business Without Really Trying and Promises, Promises. With late producing partner Craig Zadan, he brought to the screen a slew of movie musicals, including Chicago, Gypsy, The Sound of Music Live and Jesus Christ Superstar Live in Concert. Casting and a release date for the 13 film is still to come.Ben Platt to Perform at GLAAD Media Awards CeremonyStrong-voiced star Ben Platt has signed on to perform at the 31st annual GLAAD Media Awards ceremony. The previously announced event will be held on March 19 at the Hilton Midtown. A Tony winner for his leading turn in Dear Evan Hansen, Platt earned a Golden Globe nomination for his current performance in The Politician and was recently named Hasty Pudding’s 2020 Man of the Year. As previously announced, the GLAAD Media Awards recently reinstated its Outstanding Broadway Production category, with this year’s nominees comprising The Inheritance, Slave Play, Jagged Little Pill, Choir Boy and What the Constitution Means to Me. The upcoming GLAAD Awards ceremony will put a special spotlight on two-time Tony winner Judith Light, who will recieve this year’s Excellence in Media Award.Get a First Look at Roger Bart Singing from the Back to the Future MusicalThe countdown continues to the debut of the new musical adaptation of the movie Back to the Future. The upcoming production has just offered up a new sneak peek featuring Tony winner Roger Bart as Doctor Emmett Brown alongside Olly Dobson as Marty McFly. In the video, Bart lends his voice (and dance skills) to “It Works,” a new song penned by composer-lyricist team Alan Silvestri and Glen Ballard. The new musical is currently slated to run from February 20 through May 17 at the Manchester Opera House in the U.K. Check out the song below and keep your fingers crossed that this musical heads to Broadway soon! Video Footage Is Here of the Star-Packed New Musical EmojilandThe new off-Broadway musical comedy Emojiland has released a colorful new video featuring performance footage from the cheered show. Lesli Margherita and Josh Lamon head the cast of the tuner that is packed with stage stars, including Ann Harada, Max Crumm and Lucas Steele. Check them out singing from the new sensation below and then make plans to experience Emojiland for yourself.center_img Ben Platt Josh Lamon Judith Light Neil Meron(Photo by Emilio Madrid for Roger Bartlast_img read more

Project News: May 2015-June 2015

first_imgUP AND UPSundt Construction has been selected as the construction manager at risk for Tucson Airport’s terminal upgrade beginning in late 2015. The construction budget is between $18M and $23M.Chandler gets its wingsChandler approved a 50-year ground lease with WingSpan Aviation Center at Chandler Municipal Airport. The first phase of the project includes an 80KSF hangar building that will be equipped with office spaces. Total build-out is expected to take five years for 250KSF of development.Rule of ThreeThe modernization of Sky Harbor Terminal 3 began in March. By next summer, larger security checkpoints and airline ticket counter spaces will be complete. Future phases include redesigned concourses and additional retail. There are three architects on the project: DWL, SmithGroupJJR and Corgan.Full houseOne of the largest speculative office projects in Phoenix has been more than 35 percent pre-leased. As Airport I-10’s 600KSF phase 1 nears completion, DLS Worldwide, DHL and Pilot Freight Services signed leases at the Wentworth Property Company and Clarion Partners project. JLL handled the leasing.Work it outPlexus Worldwide — a health supplement seller — broke ground on its 70KSF national headquarters at Pima Center on March 30. This will bring the company’s total square-footage in the area to 100KSF. In the last four years, Plexus has grown from a company with an annual income of $1M to $300M.Big stretchThe CanaMex Interstate 11 freeway study corridor has been extended from Wickenburg to Nogales. This extension on I-11 brings the potential trade route between Canada and Mexico one step closer to reality.Lap of luxuryThe P.B. Bell Companies has begun construction on Velaire at Aspera, an apartment community within the 75-acre Aspera mixed-use development in Glendale. Velaire at Aspera, expected to open in 2017, will offer 286 luxury apartment homes in a resort-like setting, with amenities that include an electric-car charging station and agility dog park. MT Builders, Inc. will serve as the general contractor on the project. Todd & Associates, Inc. is the architect.Order UpSite work has begun on a 17-acre parcel of land at the NWC of Houghton and Old Vail roads in southeastern Tucson. The area, dubbed Las Plazas at Old Vail, is slated to become a new retail and restaurant hub. CBRE’s Nancy McClure and Michael Laatsch have the marketing assignment.last_img read more

Canning in line to face Tipperary

first_imgPhoto © Tipp FM Joe Canning is reportedly in line to be available to line out for Galway against Tipperary in the Allianz National Hurling League at the Weekend.Tipperary take on Galway, for the first time since losing to them in the 2017 All-Ireland semi-final, in Salthill.Former hurler of the year Canning went off injured in the Tribesmen’s loss to Limerick last week but it’s being reported this morning that Canning is back in training and may feature. Former captain David Burke is also set to return from travelling to provide a further test for Liam Sheedy’s men.last_img

Javier Tebas Reiterates Importance Of Sports To Spanish Economy

first_imgJavier Tebas today participated in the Spanish Companies Leading the Future (EELF) Corporate Summit, organised by the CEOE (Spanish Confederation of Employers’ Organisations), during which he spoke about the importance of sport to the Spanish economy. The LaLiga President featured in a panel discussion, which debated issues relating to culture and sport, alongside the president of Atletico de Madrid and EGEDA, Enrique Cerezo; the President of Iniciativas Teatrales, Enrique Cornejo; and Carlos Sainz, rally driver and the Director of Carlos Sainz Karting.During his address, Tebas commented that “LaLiga clubs, like any other business, have owners who risk their assets to create not only entertainment but also wealth for Spain and its citizens. Sport generates 2% of Spanish GDP, of which LaLiga accounts for 1.37%, 185,000 jobs and €4.1 billion in tax revenue. “We are one of Spain’s most important net export industries, if not the most important. We have a product, football, which is exported across the world via satellite and without transport and shipping costs. Exporting our broadcasts costs €40 million and in return, we generate over €1.4 billion between broadcast revenues and sponsorships, a net total of over €1.35 billion coming into Spain.”He added that “Spain is the country with the worst tax terms for footballers in the European Union. In Italy, France and the UK, they have far more favourable tax terms for high-earning professional athletes, which is ultimately luring our talent to those countries. It’s simple, if our talent leaves, our national and international broadcast value drops. And if that happens, the standing of our league will drop and so too will the number of jobs we generate.”  The EELF Corporate Summit is being held in Madrid over this week and next and aims to analyse the state of the Spanish economy following COVID-19 and consider how to make it more modern, competitive, robust and sustainable.Over 100 speakers joined the LaLiga President at the summit, including Pablo Isla, the President of INDITEX; Ana Botin, the Chairwoman of Santander Bank; Jose Maria Alvarez-Pallete, the President of Telefonica; Luis Gallego, the President of Iberia; and Marta Martinez Alonso, Chairwoman at IBM. RelatedLaLiga Clubs Resume Group TrainingMay 18, 2020In “Spain”Atletico Madrid Round Off The Season With A Friendly In Nigeria Thanks To LaLigaMay 10, 2018In “Europe”LaLiga Launch Free Viewing Service For Fans WorldwideMarch 27, 2019In “Europe”last_img read more