BOGOTA, Colombia, Jan. 7, 2020 /PRNewswire/ -- As part of the
implementation of the "Avianca 2021 Plan", Avianca management
has reached the following agreements to tailor its aircraft
commitments to its future requirements:
- In cooperation with Airbus, the Company has reduced its firm
commitments to 88 A320neo aircraft (from 108)
-
- Previously scheduled firm A320neo family deliveries in 2020
through 2024 have been deferred or cancelled
- The 88 remaining commitments are now scheduled for delivery in
2025 through 2028 (20 per year) with the balance in 2029 (8)
- These agreements provide comprehensive financial benefits, with
significant Capex reduction in the period through the end of
2024
- Separately, Avianca has agreed to enter into 12-year operating
leases for up to 12 A320neo aircraft with BOC Aviation
-
- Deliveries to occur after 2023, consistent with the Avianca
2021 plan
- Finally, Avianca reached a mutually beneficial agreement with
Boeing with regards to the outstanding 787-9 deliveries
CFO Adrian Neuhauser said "The
completion of these three major aircraft transactions, coupled with
the recently completed financial reprofiling and securing of
$375 million of new long-term capital
financing, places Avianca in a solid position as it moves
forward with the Avianca 2021 Plan."
ABOUT AVIANCA HOLDINGS S.A.
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.
Avianca Holdings S.A. (NYSE: AVH) (BVC:PFAVH) comprises the
airlines: Aerovías del Continente Americano S.A.—Avianca, Tampa
Cargo S.A., 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, Transamérican Airlines
S.A.—TACA Perú, incorporated in Perú, Servicios Aéreos Nacionales
S.A.—SANSA, incorporated in Costa
Rica, Aerotaxis La Costeña S.A., incorporated in
Nicaragua, and Isleña de
Inversiones S.A. de C.V.—ISLEÑA, incorporated in Honduras.
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SOURCE Avianca Holdings S.A.