(Reuters) - Colombia's government said on Saturday it will extend up to $370 million in loans to Avianca, amid the airline's Chapter 11 bankruptcy protection process in the United States. "With a view to guaranteeing service, air connectivity for Colombians and general economic activity, the national government will participate in Avianca's restructuring process," the finance ministry said in a statement. 2 carrier, filed for bankruptcy protection in May. "The operation will take place through a credit of up to $370 million in an 18-month transaction that corresponds to the estimated time the company's restructuring process will last," the ministry statement added. The credit will expire in November 2021.

Source: New York Times August 29, 2020 20:48 UTC