RECEIPT OF NOTICE FROM THE COLOMBIAN STOCK EXCHANGE INFORMING
THAT AVIANCA HOLDINGS S.A.’S SHARES WILL BEGIN TRADING BY AUCTION
Bogotá D.C., May 22, 2020—Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) (the “Company” or “Avianca”)
informs that the Colombian Stock Exchange (“BVC”) notified the Company that trading of its preferred stock (BVC: PFAVH), will be conducted by means of auctions starting on May 26, 2020.
Pursuant to the BVC’s notice, the decision was adopted by its Equity Technical Committee due to: (i) Avianca’s voluntary filing for protection
under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York; (ii) the New York Stock Exchange’s (“NYSE”) decision to commence the delisting process of
Avianca’s ADRs; (iii) the fact that, as a result of (i) and (ii) above, the price of Avianca’s shares on the BVC has been subject to increased volatility (iv) the existence of a percentage of unsatisfied offers in view of
the number of shares currently in circulation; and (v) the fact that instruments subject to trading by auction there are no applicable ranges of prices for the placing of trades, which allows for a more efficient price formation process under
the current circumstances.
Market participants and investors should note that pursuant to the regulations of the BVC auction system, trades can only be
registered during a specific auction period, and that any resulting transactions must be executed as provided by BVC regulations.
For more information,
please consult your investment advisor, stockbroker, securities’ management company, in addition to reviewing the BVC regulations which can be found in the following link: https://bit.ly/3bO0far.
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.
For further information:
Investor Contact
Investor Relations
ir@avianca.com
(571) (5877700)
Media Contacts
Avianca in Colombia and South America:
Viviana Escobar,
Corporate Communications
viviana.escobar@avianca.com
Avianca in USA, Central America and Europe:
Adriana Paulinne
Sánchez, Corporate Communications
Adriana.sanchez@avianca.com
Joele Frank, Wilkinson Brimmer Katcher:
Leigh Parrish
lparrish@joelefrank.com
+1 (917) 282 8908
LLYC:
Alejandra Aljure, Director
aaljure@llorenteycuenca.com