Avianca Holdings S.A.
BOGOTA, Colombia, September 22, 2020 – Avianca
Holdings S.A. (OTCMKTS: AVHOQ, BVC: PFAVH) (the “Company” or
“Avianca”) today announced that, as disclosed in its filings with
the Bankruptcy Court of the Southern District of New York and as
reported in the press, the Company made payments of approximately
US$ 7 million to certain of its executives prior to its
Chapter 11 filing. Such amounts contemplate payments made in
compliance with certain obligations corresponding to the year 2019,
as well as payments made in accordance with certain retention plans
that were approved by the Company’s Board of Directors prior to
filing for Chapter 11, as an incentive for the Company’s management
team to continue to provide services to Avianca throughout its
Chapter 11 process.
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 had over 21,000 employees, operated a fleet of
158 aircraft and served 76 destinations in 27 countries within the
Americas and Europe. In 2019, the Company carried 30.5 million
passengers, generating revenues of approximately US$
4.6 billion.
Contacts
Investor Contact
Avianca:
Luca Pfeifer, Head of Investor Relations
ir@avianca.com
(571) (5877700)
U.S. and Europe Media Contact
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
Joele Frank, Wilkinson Brimmer Katcher:
Leigh Parrish
lparrish@joelefrank.com
+1 212 355 4449
Central America Media Contacts
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
LLYC:
Alejandra Aljure, Director
aaljure@llorenteycuenca.com
Colombia and South America Media Contact
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
