In September, the subsidiary companies of Avianca Holdings S.A. (NYSE: AVH) (BVC: PFAVH) (*) transported 2,419,235 passengers, an increase of 5.2% compared to September 2015. Capacity, measured in ASKs (available seat kilometers), increased 3.0%, while passenger traffic, measured in RPKs (revenue passenger kilometers), increased 8.1%. The load factor for the month was 81.9%, an increase of 380 bps compared to the same period of 2015.

Domestic markets in Colombia, Peru and Ecuador

In September, the subsidiary airlines of Avianca Holdings transported within each of these markets a total of 1,451,213 travelers, an increase of 3.9% compared to September 2015. Capacity (ASKs) increased 2.2% while passenger traffic (RPKs) increased 4.0%. The load factor for the month was 78.8%, an increase of 140 bps compared to the same period of 2015.

International markets

In September, the affiliated airlines of Avianca Holdings transported 968,022 passengers on international routes, up 7.2% compared to September 2015, Capacity (ASKs) increased 3.2%, while passenger traffic (RPKs) increased 9.3%. The load factor for the month was 82.8%, an increase of 460 bps when compared to the same period of 2015.

Operational Statistics   Sep-16   Sep-15   Δ YOY   3Q 2016   3Q 2015   Δ YOY   YTD 2016   YTD 2015   Δ YOY                   Avianca Holdings (Consolidated) PAX (K)1 2,419 2,300 5.2% 7,609 7,373 3.2% 21,814 20,989 3.9% ASK (mm)2 3,849 3,736 3.0% 11,973 11,618 3.1% 35,052 32,947 6.4% RPK (mm)3 3,154 2,917 8.1% 9,997 9,441 5.9% 28,094 26,262 7.0% Load Factor4   81.9%   78.1%   3.8pp   83.5%   81.3%   2.2pp   80.2%   79.7%   0.5pp Domestic Market PAX (K)1 1,451 1,397 3.9% 4,517 4,427 2.0% 13,120 12,662 3.6% ASK (mm)2 816 799 2.2% 2,485 2,462 0.9% 7,450 7,297 2.1% RPK (mm)3 644 619 4.0% 2,016 1,965 2.6% 5,842 5,585 4.6% Load Factor4   78.8%   77.4%   1.4pp   81.1%   79.8%   1.3pp   78.4%   76.5%   1.9pp International Market PAX (K)1 968 903 7.2% 3,092 2,946 4.9% 8,694 8,327 4.4% ASK (mm)2 3,032 2,937 3.2% 9,487 9,156 3.6% 27,602 25,649 7.6% RPK (mm)3 2,510 2,298 9.3% 7,981 7,477 6.7% 22,253 20,677 7.6% Load Factor4   82.8%   78.2%   4.6pp   84.1%   81.7%   2.4pp   80.6%   80.6%   0.0pp

1PAX: Passengers carried

2ASKs: Available Seat Kilometers

3RPKs: Revenue Passenger Kilometers

4Load Factor:Represents utilized seating capacity

The terms "Avianca Holdings" or "the Company" refer to the consolidated entity

The original source-language text of this announcement is the official, authoritative version, Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect,

About Avianca Holdings S.A.

(*) Avianca Holdings S.A. (NYSE: AVH) (BVC:PFAVH) comprises the airlines: Aerovías del Continente Americano S.A. Avianca (Avianca), Tampa Cargo S.A.S. , incorporated in Colombia, Aerolineas Galapagos S.A. - Aerogal, incorporated in Ecuador, and the TACA Group companies: TACA International Airlines S.A., incorporated in El Salvador, Lineas Aereas Costarricenses S.A., LACSA, incorporated in Costa Rica, Trans Américan Airlines S.A., incorporated in Perú, Servicios Aéreos Nacionales S.A., SANSA, incorporated in Costa Rica, Aerotaxis La Costeña S.A., incorporated in Nicaragua, Isleña de Inversiones S.A. de C.V., ISLEÑA, incorporated in Honduras and Aviateca S.A., incorporated in Guatemala.

Avianca Holdings S.A.Investor Relations Office+571 587 77 00 ext. 1320/1321ir@avianca.comorAvianca Holdings S.A.External Communications DirectorateGilma Úsuga, (57+1) - 587 77 00 ext. 1670 - 1711gilma.usuga@avianca.comjaneth.benitez@avianca.com

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