AVIANCA HOLDINGS ANNOUNCES CHANGES IN ITS
MANAGEMENT STRUCTURE
ADRIAN NEUHAUSER ASSUMES THE POSITION OF
CORPORATE EXECUTIVE VICE PRESIDENT OF
AVIANCA HOLDINGS
Bogota, November 18, 2020. As a result of the
ongoing reorganization process that Avianca Holdings (the
“Company”) is conducting within the framework of its Chapter 11
proceedings, the Company announced today that as part of its new
management structure, Adrian Neuhauser will, in addition to his
current position as Chief Financial Officer, assume additional
responsibilities relating to the airline’s operation and the
Company’s legal affairs as Corporate Executive Vice President,
reporting to the CEO.
Under the new reporting structure, in addition to the finance
department, the Company’s Chief Operating Officer and Legal Affairs
departments (including Compliance) will report directly to the new
Executive Vice President. Richard Galindo will assume the
position of Legal Vice President and General Counsel of the
Company.
All other executive vice presidents (such as those responsible for
commercial affairs, customer experience, network planning,
technology, and human resources) will continue to report directly
to the CEO.
These changes in the Company’s management structure arise, on the
one hand, due to the need for a specialized team dedicated to
customer service and to facing the challenges of restarting
operations and, on the other hand, as part of the Company’s
organizational restructuring following the Company’s filing for
Chapter 11.
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.
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)
U.S. and Europe Media Contact
Avianca:
Viviana Escobar, Corporate Communications
viviana.escobar@avianca.com
