Avianca Holdings: positive start to 2020 after a rocky 2019
Avianca has reached a deal to cancel some narrowbody orders and to defer a significant number of aircraft deliveries, which will result in decreased capex in the short term. The latest fleet changes will help the company continue its balance sheet repair.
It is a positive start for Avianca in 2020 after a tumultuous 2019 that included shareholder upheaval and major changes in its senior executive team, including the installation of a new CEO. However, Avianca still has a lot of work to do to decrease its leverage and establish a path to sustained profitability.
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