BOGOTA (Reuters), – Colombian airliner Avianca declared Wednesday it had completed Chapter 11 bankruptcy. It did this one month after a U.S. court approved the reorganization.

Bogota’s airliner stated that “Today, the previous conditions have been fulfilled.” Avianca has “recovered successfully” from the said process.

Avianca and LATAM Airlines, a rival in Chile, were two of the largest regional carriers before the coronavirus pandemic. However, both companies were forced into restructuring bankruptcy after the virus overtook air travel.

Avianca was already suffering from losses over many years prior to the pandemic. United Airlines led a Boardroom coup that saw Avianca become a profitable company in 2019.

The Southern District in New York approved Avianca’s restructuring plan in November. It was one day after Avianca declared that Avianca will relocate its capital to Britain.

Avianca Group International Ltd. will take over the business once its principal domicile in Britain is established.