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IN RE AEROVIAS NACIONALES DE COLOMBIA S.A.

Nos. 03-11678(ALG), 03-11679(ALG).

303 B.R. 1 (2003)

In re AEROVIAS NACIONALES DE COLOMBIA S.A. AVIANCA and Avianca, Inc., Debtors.

United States District Court, S.D. New York.

December 23, 2003.

Attorney(s) appearing for the Case

Smith, Gambrell & Russell, LLP, Atlanta, GA, By Ronald E. Barab, Leigh Jones, for Debtors.

Greenberg Traurig, LLP, New York City, By Richard S. Miller, James P.S. Leshaw, for the Official Committee of Unsecured Creditors.

Shaw, Licitra, Bohner, Esernio, Schwartz & Pfluger, P.C., Garden City, NY, By John H. Hall, Jr., for United Aerospace Corp. Inc.

Winston & Strawn, New York City, By Steven M. Schwartz, for Debis Finance Ireland and Debis AirFinance B.V.

Buchanan Ingersoll P.C., New York City, By Susan P. Persichilli, Vincenzo Paparo, for Dresdner Kleinwort Wasserstein Limited.

Sandler & Sandler, Miami, FL, By Martin L. Sandler, for EADS Sogerma Barfield, Inc.

Law Offices of Lionel Barnet, P.A., Miami, FL, By Lionel Barnet, for Med-Air, Inc. and Med-Craft, Inc.

MEMORANDUM OF DECISION

ALLAN L. GROPPER, Bankruptcy Judge.

On March 21, 2003, Aerovias Nacionales de Colombia S.A. Avianca ("Avianca"), the leading airline of the Republic of Colombia, filed for Chapter 11 relief in this Court. Its wholly-owned subsidiary and agent in the United States, Avianca, Inc. ("Avianca, Inc."), a corporation organized under the laws of the State of New York, filed a separate petition under Chapter 11. Before the Court are...

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