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,
Avianca’s 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 Avianca’s DIP financing.
After its review of Avianca’s and the Colombian government’s
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, Avianca’s 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
