Shares of Avianca Holdings SA have tumbled 45% over the past week as the Colombian airline prepares a bankruptcy exit plan that will likely make the stock worthless. 

The air carrier, which was driven into Chapter 11 during last year’s pandemic and travel bans, fell 6% in Bogota trading Monday, extending losses for a fifth day, according to data compiled by Bloomberg. Shares were trading around 119 pesos (about 3 cents) on Monday. 

A U.S.  judge will consider the airline’s Chapter 11 exit proposal, which includes potentially converting some of its bankruptcy loans into equity in a reorganized holding company, according to a regulatory filing. 

“Under the Chapter 11 plan, the value of the shares of the company would be reduced to zero, due to the decrease in equity of the company attributable to the debtors’ liabilities to third parties and creditors, as well as the injection of capital by new investors pursuant to the Chapter 11 plan,” the filing said. 

The hearing is scheduled for Sept. 14.