AVIANCA HOLDINGS ANNOUNCES CHANGES IN ITS MANAGEMENT STRUCTURE
ADRIAN NEUHAUSER ASSUMES THE POSITION OF CORPORATE EXECUTIVE VICE PRESIDENT OF
AVIANCA HOLDINGS
Bogota,
November 18, 2020. As a result of the ongoing reorganization process that Avianca Holdings (the Company) is conducting within the framework of its Chapter 11 proceedings, the Company announced today that as part of
its new management structure, Adrian Neuhauser will, in addition to his current position as Chief Financial Officer, assume additional responsibilities relating to the airlines operation and the Companys legal affairs as Corporate
Executive Vice President, reporting to the CEO.
Under the new reporting structure, in addition to the finance department, the Companys Chief
Operating Officer and Legal Affairs departments (including Compliance) will report directly to the new Executive Vice President. Richard Galindo will assume the position of Legal Vice President and General Counsel of the Company.
All other executive vice presidents (such as those responsible for commercial affairs, customer experience, network planning, technology, and human resources)
will continue to report directly to the CEO.
These changes in the Companys management structure arise, on the one hand, due to the need for a
specialized team dedicated to customer service and to facing the challenges of restarting operations and, on the other hand, as part of the Companys organizational restructuring following the Companys filing for Chapter 11.
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.
Forward-Looking Statements
Avianca has included statements in this press release that constitute forward-looking statements. As a general matter, forward-looking statements
are those focused on future or anticipated events or trends, expectations, and beliefs including, among other things, the Companys expectations with respect to its Chapter 11 proceedings, the airline industry and the impacts of COVID-19. Such statements are intended to be identified by words such as believe, expect, intend, estimate, anticipate, will,
project, plan and similar expressions in connection with any discussion of future operating or financial performance. Any forward-looking statements are and will be based upon the Companys then-current expectations,
estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Readers are cautioned not to put undue reliance on such forward-looking statements.
Forward-looking statements in this press release are not guarantees of future performance and involve risks and uncertainties, including with respect to the
Chapter 11 process, related negotiations and hearings before the Bankruptcy Court, as well as the COVID-19 crisis. Actual results may differ materially from those projected in this press release for numerous
reasons, including factors outside of the Companys control. The Company expressly disclaims any obligation to update or revise this press release, including any forward-looking statements, whether as a result of new information, future events
or otherwise.
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