RELEVANT INFORMATION
NYSE to Suspend Trading Immediately in Avianca
Holdings S.A. (AVH) and Commence Delisting Proceedings
Bogota, May 12, 2020 – Avianca Holdings S.A. (NYSE: AVH, BVC:
PFAVH) (the “Company” or “Avianca”) informs that the New York Stock
Exchange (“NYSE”) announced on May 11, 2020 that, as the
Company believes is its customary practice, the NYSE has suspended
trading in the Company’s American Depositary Shares (the “ADSs”),
each representing eight preferred shares of the Company, as a
result of the Company’s filing on May 10, 2020 of voluntary
petitions under Chapter 11 of the United States Bankruptcy Code in
the U.S. Bankruptcy Court for the Southern District of New
York.
The NYSE notified the Company that it will also apply to the
Securities and Exchange Commission to delist the ADSs once any
applicable procedures are completed, including any appeal by the
Company of the NYSE staff’s decision.
Additionally, the Company informs that the Colombian Stock Exchange
(Bolsa de Valores de Colombia, “BVC”) notified Avianca that
(i) the Company’s preferred shares continue to trade on the
BVC, (ii) the Company’s preferred shares continue to be
ineligible for repo transactions and are inadmissible as collateral
for margin calls in other types of transactions, and
(iii) starting on May 11, 2020, no futures or options
contracts in respect of Avianca’s preferred shares may be entered
into.
*About Avianca Holdings S.A. (NYSE: AVH) (BVC: PFAVH)
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 158 aircraft, Avianca serves 76 destinations in 27
countries within the Americas and Europe. With more than 21,000
employees, the Company had revenues of US$4.6 billion in 2019
and transported 30.5 million passengers. On February 22,
2019, the Company 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 the Company 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
