Only a few months ago, Avianca Brasil had big plans. It had just announced new U.S. destinations and pondered how to grow further: add more U.S. markets or go straight to Europe, using its fleet of leased Airbus A330s. But as things stand, none of that will happen soon as the airline fights for survival. The carrier, owned by German and Jose Efromovich’s Synergy Group and a member of the Star Alliance, filed for bankruptcy Dec. 11 to keep lessors from repossessing a substantial part ...

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