 On May 10, 2020, Avianca filed for Chapter 11 bankruptcy in a court in New York City, NY, United States, and liquidated its subsidiary Avianca Peru, becoming one of the major airlines to have filed for bankruptcy due to the COVID-19 pandemic crisis.The airline traces its history back to 5 December 1919, in the city of Barranquilla, Colombia.Colombians Ernesto Cortissoz Alvarez-Correa (the first President of the Airline), Rafael Palacio, Cristóbal Restrepo, Jacobo Correa and Aristides Noguera and Germans Wilhem Schnurbusch, Werner Kämerer, Stuart Hosie and Albert Teitjen founded the Colombo-German Company, called "Sociedad Colombo-Alemana de Transportes Aéreos" or SCADTA.