|
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 Aviancas 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 plaintiffs 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 Companys 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 Companys 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 Companys 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)