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12-Jul-2019 9:52 AM

Avianca Holdings seeks re-profiling of debts to 'ensure adequate liquidity'

Avianca Holdings announced (11-Jul-2019) it is "rapidly advancing" with its plan to strengthen its competitiveness and implement "necessary financial adjustments" under the 'Avianca 2021' strategy. The carrier has initiated a "systematic effort to improve punctuality, achieving measurable improvement", based around a key programme pillar of enhanced operational efficiency. Avianca Holdings CFO Adrian Neuhauser stated the goal is to achieve "sustainable and competitive growth, doubling current operating margins while maintaining disciplined capital investments, generating consistent cash flow that would achieve conservative leverage levels by 2021". Mr Neuhauser added that in the immediate term "the re-profiling of our debts is essential to ensure adequate liquidity". [more - original PR]

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