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AVH - Avianca Holdings SA News Story

$0.88 0.0  0.0%

Last Trade - 08/05/20

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £2.53bn
Position in Universe th / 6858

UPDATE 1-Colombia's Avianca cancels 17 Airbus plane orders, delays 35 deliveries

Fri 15th March, 2019 10:24pm
(Adds context)
    SAO PAULO, March 15 (Reuters) - Colombian airline Avianca
Holdings  AVT_p.CN  canceled an order of 17 Airbus A320 Neo
aircraft  AIR.PA  and delayed deliveries on 35 others, according
to a securities filing on Friday.
    Avianca said this would reduce its financial commitments
between 2020 and 2022 by $2.6 billion. The Colombian carrier has
 shifted its strategy to focus on profitability from growth. 
    The airline is following in the footstep of regional rival
LATAM Airlines  LTM.SN , which in recent months has said it was 
reducing future fleet commitments by $2.2 billion.  urn:newsml:reuters.com:*:nL2N1XW0GD
    Avianca, United Continental Holdings Inc  UAL.O  and
Panama's Copa Holdings  CPA.N  announced late last year that
they would form an alliance to try to expand their reach in the
Latin American market, excluding Brazil.
    Avianca is separate from Avianca Brasil, a struggling
carrier that filed for bankruptcy in December, although they
share owners. Up until last month, the two airlines had been
carrying out due diligence for a potential merger, but that
process has been suspended. urn:newsml:reuters.com:*:nE6N1YA02K

 (Reporting by Marcelo Rochabrun; Editing by Christian Plumb and
Grant McCool)
 ((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))
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