|Bid||4.1000 x 800|
|Ask||4.1400 x 800|
|Day's Range||3.0300 - 4.0000|
|52 Week Range||2.8800 - 7.7700|
|Beta (3Y Monthly)||0.90|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.77 (18.67%)|
|1y Target Est||5.44|
The U.S. airline took legal action Friday in Bogota on a defaulted $456 million loan it made to Avianca Chairman German Efromovich as part of the proposed partnership. United is looking to secure Efromovich’s majority stake in Avianca, which was collateral for the loan. The Bogota-based carrier careened into crisis last month when its chief executive officer resigned and the airline revealed the loan breach by Efromovich’s BRW Aviation, the company through which the chairman holds his Avianca shares.
Brazil's civil aviation regulator ANAC said on Friday it had suspended all flights and operations of carrier Avianca Brasil in the country as a precautionary measure, following the company's filing for bankruptcy late last year. "All the flights are suspended until the company proves it has the capacity to maintain operations safely," ANAC said in a statement. Avianca Brasil has filed for bankruptcy protection and lost most of its fleet after lessors obtained favorable court decisions to take aircraft back for lack of payments.
United, which is proposing a three-way joint business agreement with Avianca and Panama's Copa, said the move follows a default by Efromovich's holding company BRW Aviation on a $456 million loan it made six months ago. United's loan was backed by Efromovich's 51.5% stake in Avianca. As a result, United is ceding voting rights to Kingsland Holdings, the Colombian carrier’s second-largest shareholder.
Brazil's civil aviation regulator ANAC said on Friday it had suspended the operations of carrier Avianca Brasil in the country, including all remaining flights, as a precautionary measure. "All the flights are suspended until the company proves it has the capacity to maintain operations safely," ANAC said in a statement. Avianca Brasil has filed for bankruptcy protection and lost most of its fleet after lessors obtained favourable court decisions to take aircraft back for lack of payments.
Avianca’s first-quarter loss was the biggest since 2015. The self-made millionaire imperiled the airline’s future by last year offering up his 51.5% stake in Avianca as collateral on a loan from United Continental Holdings Inc. His holding company BRW Aviation quickly breached terms of the contract and, as a result, control of Avianca could pass to United’s hands. While that would likely be a positive for Avianca’s minority shareholders and bondholders, the current uncertainty has created myriad problems for the airline just as it faces down a $550 million bond coming due next year.
U.S. hedge fund Elliott Management is opposing a new plan by Brazilian airline Azul SA to purchase some of the routes operated by financially troubled rival Avianca Brasil for $145 million, according to a legal document seen by Reuters. Elliott, known in Latin America for forcing Argentina into bigger repayments on defaulted bonds, is Avianca Brasil's largest creditor by a wide margin, with claims totaling almost $490 million. Avianca Brasil filed for bankruptcy protection in December, setting off a dispute for its routes among Brazil's top three airlines.
Avianca Holdings S.A. (AVH) closed the most recent trading day at $3.15, moving +1.13% from the previous trading session.
Brazilian airline Azul SA on Monday made a new attempt to purchase some of bankrupt airline Avianca Brasil's most coveted routes, offering $145 million and reversing a decision not to participate. Avianca Brasil filed for bankruptcy protection in December, setting off a fierce battle for its airport slots, the rights to land and depart in crowded airports, which were expected to be sold at a bankruptcy auction that was suspended indefinitely. On Monday afternoon, Avianca Brasil's pilots and aircraft crew said through their union that they would hold an indefinite general strike on Friday, citing recurring delays in payroll.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
A Brazilian appeals court on Monday suspended a bankruptcy auction set for Tuesday, in which struggling carrier Avianca Brasil hoped to raise at least $140 million by selling some of its coveted airport takeoff and landing rights, known as slots. The suspension could put further stress on Avianca Brasil, the country's No. 4 airline, which has been operating with very little cash since filing for bankruptcy protection in December. The airline said in a statement that it was still analyzing what it would do in response and that it had not filed an appeal as of Tuesday afternoon.
A bankruptcy auction for struggling carrier Avianca Brasil that was scheduled for Tuesday has been suspended through a last-minute injunction, according to a legal document seen by Reuters. The suspension ...
Avianca Holdings S.A. (AVH) closed the most recent trading day at $3.89, moving -0.51% from the previous trading session.
Both Aviancas belong to the same family-owned business group, led by brothers German and Jose Efromovich, but are maintained as separate companies. Bogota-based Avianca Holdings is the larger, better-known airline and licenses its brand for free to two smaller airlines owned by the Efromovich brothers, one in Brazil and one in Argentina. The disclosures were made by Avianca Holdings in its annual report filed with the U.S. Securities Exchange Commission on Monday.
BOGOTA, Colombia, April 24, 2019 /PRNewswire/ -- Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today announced that Hernán Rincón Lema has notified the Avianca Holdings Board of Directors that he plans to retire from the Company effective April 30, 2019 after three years serving as the Company's Chief Executive Officer. Mr. Rincón's announcement, which was made upon completion of his third year as Avianca's CEO, is aligned with the Company's ongoing long-term strategic and organizational development program, as part of a planned transition.
Avianca Holdings S.A. (AVH) closed the most recent trading day at $3.99, moving +0.25% from the previous trading session.
RIO DE JANEIRO (AP) — Avianca Brasil canceled more than 1,045 domestic flights this week because it has to return 18 aircraft to leasing agencies.
Struggling Brazilian airline Avianca Brasil will return eight planes to its lessors after Easter, Brazilian aviation regulator ANAC said on Wednesday. Avianca will begin returning the planes next Monday, ...
Struggling Brazilian airline Avianca Brasil had told regulators that it was permanently cancelling several routes as of Monday despite continuing to sell tickets for them on its website, according to a letter seen by Reuters. The airline, which has been fighting aircraft lessors in bankruptcy court, told civil aviation regulator ANAC in the letter sent on Friday that it was ending 48 flight frequencies — around a quarter of its capacity — due to a shrinking fleet. The letter, which has not previously been reported, was the strongest sign yet of the operational impact of a bankruptcy process started in December by Brazil's fourth-largest airline.
Avianca Brasil on Friday canceled 179 flights scheduled for the next five days after a judge denied an appeal by the carrier to hold on to nine disputed planes, marking the unraveling of the airline four months after it filed for bankruptcy protection. Avianca Brasil was operating with 35 planes, a representative said, but a federal judge late on Friday ordered the return of nine planes "immediately," denying the carrier's last-minute appeal, according to a news release by the Brazilian court. Lessor Aircastle was scheduled to repossess its remaining nine planes leased to Avianca Brasil by Sunday, Brazil's civil aviation regulator said.
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