Avianca Holdings S.A.
Bogotá D.C., September 30, 2020.Avianca Holdings S.A. (OTCUS: AVHOQ, BVC: PFAVH) (Avianca or
the Company) informs that, as previously disclosed, Aviancas Debtor-in-Possession (DIP) financing provides for the possible participation
by one or more governments in a principal amount of up to US$240 million. As also previously disclosed, on September 15, 2020, the Administrative Court of Cundinamarca (the Administrative Court) issued an injunction barring the
Colombian government from participating in Aviancas DIP financing.
After its review of Aviancas and the Colombian governments motions
in support of such financing, the Administrative Court decided, on September 30, 2020, not to lift its injunction. Avianca has already filed an appeal in respect of this ruling.
As previously disclosed, Aviancas DIP structure contemplates a backstop financing for the $240mm portion reserved for the eventual participation by
governments, and is not contingent on the injunction being lifted before DIP financing approval.
At the next hearing before the U.S. Bankruptcy Court,
which is scheduled for October 5, 2020, the Company will seek court approval of its proposed DIP financing. The Company expects a favorable outcome from that hearing.
About Avianca Holdings S.A. (OTCMKTS: AVHOQ) (BVC: PFAVH)
Avianca is the trademark for the group of passenger airlines and cargo airlines under the holding company Avianca Holdings S.A. Avianca has been flying
continuously for 100 years. As of December 2019, the Company had over 21,000 employees, operated a fleet of 158 aircraft and served 76 destinations in 27 countries within the Americas and Europe. In 2019, the Company carried 30.5 million
passengers, generating revenues of approximately US$ 4.6 billion.
Contacts
Investor Contact
Avianca:
Luca Pfeifer, Head of Investor Relations
ir@avianca.com
(571) (5877700)
U.S. and Europe Media Contact
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
Joele Frank, Wilkinson
Brimmer Katcher:
Leigh Parrish
lparrish@joelefrank.com
+1 212 355 4449
Central America Media Contacts
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
LLYC:
Alejandra Aljure, Director
aaljure@llorenteycuenca.com
Colombia and South America
Media Contact
Avianca:
Viviana Escobar, Corporate
Communications
viviana.escobar@avianca.com