|Bid||4.8600 x 1800|
|Ask||4.8800 x 900|
|Day's Range||4.7700 - 4.9300|
|52 Week Range||2.5500 - 5.1000|
|Beta (5Y Monthly)||0.44|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.18 (3.66%)|
|Ex-Dividend Date||Sep 11, 2019|
|1y Target Est||4.84|
Colombian airline Avianca is a "victim" in the global scandal surrounding years of alleged bribes paid by manufacturer Airbus to bolster sales of its planes, Avianca's chief executive said on Thursday. The airline is conducting an internal investigation and is the subject of a probe by Colombian authorities related to a $4 billion (£3 billion) settlement between Airbus and prosecutors in the United States and Europe over bribery and corruption stretching back at least 15 years. French prosecutors have said Airbus documents show multi-million dollar commissions paid to an agent for jet sales to Avianca, including some meant for a high-ranking executive at parent company Avianca Holdings SA .
German Efromovich, the majority shareholder in Latin American airline Avianca , said on Wednesday he does not have any knowledge of widespread bribes allegedly paid by European manufacturer Airbus . Airbus agreed last week to pay a record $4 billion in fines after reaching a plea bargain with prosecutors in Britain, France and United States over alleged bribery and corruption stretching back at least 15 years. Avianca on Monday said it had hired a law firm to investigate its relationship with Airbus and determine if it had been a victim of wrongdoing.
Moody's Investors Service (Moody's) upgraded LifeMiles Ltd.'s senior secured and corporate family ratings to B1 from B2. LifeMiles upgrade to B1 mainly reflects an improvement in its main shareholder, Avianca Holdings S.A.'s (Avianca), credit profile, reducing the risk of LifeMiles upstreaming extraordinary cash flows -- either in the form of dividends, most likely financed with incremental debt or anticipated purchases of airline tickets.
As part of the implementation of the "Avianca 2021 Plan", Avianca management has reached the following agreements to tailor its aircraft commitments to its future requirements:
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BOGOTA, Colombia, Nov. 1, 2019 /PRNewswire/ -- Avianca Holdings S.A. (the "Company" or "Avianca") (NYSE: AVH, BVC: PFAVH) today announced the expiration and final results with respect to its offer to exchange (the "Exchange Offer") any and all of its existing 8.375% Senior Notes due 2020 (the "Existing Notes") for new 8.375% Senior Secured Notes due 2020 (the "Exchange Notes"). As of 12:01 a.m., New York City time, on November 1, 2019 (the "Expiration Deadline"), $484,419,000 aggregate principal amount of Existing Notes, representing approximately 88.1% of the total outstanding principal amount of the Existing Notes, had been validly tendered for exchange and not validly withdrawn, as confirmed by the information agent for the Exchange Offer. All holders who tendered as of the Expiration Deadline will receive the "Total Exchange Consideration," as set forth in the table below, per $1,000 of Existing Notes, plus accrued and unpaid interest in cash on Existing Notes accepted for exchange through, but not including, the settlement date for the Exchange Offer.
BOGOTÁ, Colombia, Nov. 1, 2019 /PRNewswire/ -- Avianca Holdings S.A. (the "Company" or "Avianca") (NYSE: AVH, BVC: PFAVH) announced today that it has successfully closed the Bond Exchange Offer of its US$ 550 million bonds, which mature in May 2020, with a total of 88.1% of bonds validly tendered. All participating bondholders will receive secured notes as described in the exchange offer memorandum.
A proposed joint venture between United Airlines, Colombia's Avianca Holdings and Panama's Copa Holdings has been delayed due to the potential inclusion of a fourth partner, as well as problems at Avianca, the CEOs of two of the companies said. United Airlines said last week it wants to include Brazil's Azul SA, in which it already has a stake, in the planned tie-up with Copa and Avianca, the latest play by a U.S. carrier for a region expected to have significant air-travel growth in coming decades.
Avianca Holdings S.A. (AVH) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
CHICAGO/SAO PAULO, Oct 25 (Reuters) - United Airlines wants to include Brazil's Azul in its planned tie-up with Copa Holdings and Colombia's Avianca Holdings to create a four-way partnership in Latin America, a senior executive said on Friday. "Working together gives us a shot at being No. 1 in Latin America. United, Avianca and Copa announced last November their intention to create a joint venture for travel between the United States and Latin America.
BOGOTÁ, Colombia, Oct. 10, 2019 /PRNewswire/ -- Avianca Holdings S.A. (the "Company" or "Avianca") (NYSE: AVH, BVC: PFAVH) announced today that the deadline for the exchange offer of its US$ 550 million bonds due May 2020 has been further extended to October 24. The process of obtaining the necessary third-party consents to consummate the Exchange Offer and Consent Solicitation has been progressing well. Avianca Holdings' Chief Financial Officer, Adrian Neuhauser, commented: "We are finalizing the steps necessary to close the transaction, and expect that this will be final extension.
Kingsland is a 14.5% shareholder in Avianca. United's interests in Avianca stem from the U.S. carrier's plans to grow its Latin America footprint through an alliance with Avianca and Panamanian airline Copa Airlines. PIK bonds, usually issued by financially distressed companies, pay interest in additional bonds rather than in cash during the initial period.
Latin American airline Avianca said on Monday it will receive a $200 million loan from controlling shareholders United Airlines and Kingsland Holdings Limited after it successfully exchanged hundreds of millions of dollars in bonds. The struggling airline can receive up to $175 million in additional financing from shareholders and other third parties, Avianca said in a statement to Colombia's financial regulator. United and Kingsland agreed to the loan, which should be made by around Oct. 15, on condition of a successful bond exchange which took place last month.
The Company continues to work on providing the guarantees offered to the bondholders and to finalize the transaction. Avianca Holdings has extended the exchange deadline through October 10th and the 12.78% of bondholders who have not yet validly tendered can tender through that date. BOGOTÁ, Colombia, Sept. 26, 2019 /PRNewswire/ -- Avianca Holdings S.A. (the "Company" or "Avianca") (NYSE: AVH, BVC: PFAVH) announced today that the deadline for the exchange offer of its US$ 550 million bonds due May 2020 has been further extended to October 10, 2019 from September 25 as the Company continues the administrative process of formalizing the necessary consents from its counterparties in order to provide the collateral offered in the Bond Exchange.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of LifeMiles Ltd. New York, September 25, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of LifeMiles Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Latin American airline Avianca announced the exchange of $475.2 million in bonds on Thursday, part of a plan to change its capital structure amid ongoing financial problems and enough to receive additional financing from United Airlines. In a statement to Colombia's financial regulator, Avianca said it would extend the deadline for bond holders to exchange their paper until Sept. 25, in a bid to exchange a total of $550 million worth of bonds coming due next year. Investors can exchange the bonds for others also coming due in 2020, but with a $50 bonus per $1,000.
- The Company is working to grant the guarantees offered to the bondholders and to finalize the transaction. BOGOTA, Colombia, Sept. 12, 2019 /PRNewswire/ -- Avianca Holdings S.A. (the "Company" or "Avianca") (NYSE: AVH, BVC: PFAVH) announced today that 86.4% of the outstanding principal of its US$ 550 million bonds due May 2020 had been validly tendered as of midnight on September 11th pursuant to the exchange offer launched by the Company on August 14th.