Avianca Holdings S.A.
BOGOTA, Colombia, September 22, 2020 – Avianca Holdings S.A. (OTCMKTS: AVHOQ, BVC: PFAVH) (the “Company” or
“Avianca”) today announced that, as disclosed in its filings with the Bankruptcy Court of the Southern District of New York and as reported in the press, the Company made payments of approximately US$ 7 million to certain of its
executives prior to its Chapter 11 filing. Such amounts contemplate payments made in compliance with certain obligations corresponding to the year 2019, as well as payments made in accordance with certain retention plans that were approved by the
Company’s Board of Directors prior to filing for Chapter 11, as an incentive for the Company’s management team to continue to provide services to Avianca throughout its Chapter 11 process.
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