Avianca Holdings S.A.
Bogotá, February 12, 2020
On August 15, 2019,
Avianca Holdings S.A. (“Avianca”) informed the market that it had begun an internal investigation relating to alleged irregular grants of free and discounted airline tickets. The investigation was self-reported to the U.S.
Department of Justice and the U.S. Securities and Exchange Commission and discussed with the pertinent Colombian authorities in a timely manner.
This
investigation, which remains ongoing, is being independently conducted by the law firm Ropes & Gray LLP, reporting to Avianca’s Audit Committee.
Today, the Office of the Attorney General of Colombia served Avianca with a search warrant of its offices with the objective of collecting information related
to this investigation.
As has been its practice, Avianca has cooperated and will continue to cooperate with all pertinent authorities. Avianca will
provide the information being requested to the Office of the Attorney General of Colombia, while exercising its legal rights to ensure that its confidential and privileged information remains protected.
ABOUT AVIANCA HOLDINGS S.A.
Avianca is
the commercial brand for the collection of passenger airlines and cargo airlines under the umbrella company Avianca Holdings S.A. Avianca has been flying uninterrupted for 100 years. With a fleet of 175 aircraft, Avianca serves 76 destinations in 27
countries within the Americas and Europe. With more than 21,000 employees, Avianca Holdings had revenues of US$4.8 billion in 2018 and transported 30.5 million passengers. On February 22, 2019, Avianca Holdings announced its corporate
transformation plan consisting of four key pillars: 1) the improvement of operational indicators, 2) fleet adjustments, 3) the optimization of operational profitability and 4) repositioning of non-strategic
assets. On May 24, 2019, control of Avianca Holdings was assumed by Kingsland Holdings Limited, an independent third party of United Airlines.
Investor Relations Office
+571 587 77 00 ext. 2474,
1349
ir@avianca.com
FORWARD-LOOKING
STATEMENTS
This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on
management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates,” “believes,” “estimates,” “expects,”
“plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing
strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current
views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic
and market conditions, industry conditions and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.