| |
acknowledged, a severe reduction in
the supply of air transport –an essential public service– would
adversely impact fundamental rights such as life, health, work and
the basic needs of countless Colombian citizens. Further, as also
recognized by the Supreme Court, a shutdown of Avianca would not
only result in the the loss of thousands of jobs, but would hinder
the transport of medicines, organs, blood, and medical patients and
supplies, as well as perishable products and foodstuffs, to
numerous hard-to-access destinations across the country. |
| |
5. |
The injunction would further harm the tourism
sector and impact the entire airline industry value chain. The
characteristics of the airline industry, which requires large
capital investments, complex operations, and significant regulatory
oversight, as well as the financial challenges faced by other
airlines in Colombia and abroad, make it financially, commercially
and regulatorily unrealistic for other airlines to replace
Avianca’s connectivity, and mitigate its economic impact, over the
next five years.
|
Avianca trusts that the Court will analyze the arguments set forth
in the Motion, as well as those laid out by the other defendants
named in the action, with the same expediency it exhibited towards
the plaintiff’s arguments, and within the five-business-day legally
established deadline. In addition, the Company expects that once
the Court has been able to review all of the facts that were not at
its disposal when granting the injunction, it will decide to
immediately lift the injunction in order to avoid irreparable harm
to the general public interest and to the thousands of families who
depend directly and indirectly on Avianca.
About Avianca Holdings S.A. (OTCMKTS: AVHOQ) (BVC:
PFAVH)
Avianca is the trademark for the group of passenger airlines and
cargo airlines under the holding company Avianca Holdings S.A.
Avianca has been flying continuously for 100 years. As of December
2019, the Company operated a fleet of 158 aircraft and served 76
destinations in 27 countries within the Americas and Europe. With
more than 21,000 employees, the Company earned US$ 4.6 billion
in 2019 and carried 30.5 million passengers.
Forward-Looking Statements
Avianca has included statements in this press release that
constitute “forward-looking statements”. As a general matter,
forward-looking statements are those focused on future or
anticipated events or trends, expectations, and beliefs including,
among other things, the Company’s expectations with respect to its
Chapter 11 proceedings, the airline industry and the impacts of
COVID-19. Such statements
are intended to be identified by words such as “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “will,” “project,” “plan” and
similar expressions in connection with any discussion of future
operating or financial performance. Any forward-looking statements
are and will be based upon the Company’s then-current expectations,
estimates and assumptions regarding future events and are
applicable only as of the dates of such statements. Readers are
cautioned not to put undue reliance on such forward-looking
statements.
Forward-looking statements in this press release are not guarantees
of future performance and involve risks and uncertainties,
including with respect to the Chapter 11 process, related
negotiations and hearings before the Bankruptcy Court, as well as
the COVID-19 crisis. Actual
results may differ materially from those projected in this press
release for numerous reasons, including factors outside of the
Company’s control. The Company expressly disclaims any obligation
to update or revise this press release, including any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts
Investor Contact
Avianca: Luca Pfeifer, Head of Investor Relations
ir@avianca.com
(571) (5877700)
