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
