|Bid||4.3000 x 1200|
|Ask||4.3000 x 800|
|Day's Range||4.1700 - 4.3900|
|52 Week Range||2.5500 - 5.6100|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.18 (4.26%)|
|1y Target Est||4.16|
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.
Latin American airline Avianca will look to increase the number of passengers it can fit into a plane without enlarging its fleet as part of its efforts to overcome ongoing financial problems, its chief executive said on Thursday. A video was released on social media this week showing president of the board Roberto Kriete telling employees that the airline was "broke." The airline said the video was obtained illegally and denied that it was in a bankruptcy or insolvency process. "We do not want to enter Chapter 11 (bankruptcy), obviously the negotiations on which we have focused seek to avoid having to ask for help from the courts or help from regulators and simply to reach deals that... allow us to pay everyone who we owe," chief executive Anko van der Werff told journalists.
Colombia's Avianca Holdings said on Thursday that internal investigators are looking into potential bribery, as the airline had in the past given free tickets and free upgrades to government officials of several countries. Avianca has gone through a management upheaval in recent months after longtime chairman and controlling shareholder German Efromovich was ousted in a boardroom coup in May led by United Airlines Holdings Inc, which had lent money to one of Efromovich's companies. United has not seized the shares, but did appoint a new chairman and Avianca has a new chief executive officer as well.
Avianca Holdings S.A. (NYSE: AVH) provided an update on its financial condition during its second quarter 2019 earnings report. The Colombian airline is in the middle of a major restructuring dubbed "Avianca 2021." The debt-laden airline's transformation strategy is centered on gaining density in its most profitable routes and lowering its debt burden.
Moody's Investors Service (Moody's) today downgraded to B2 from Ba2 LifeMiles Ltd.'s (LifeMiles) corporate family and senior secured ratings. LifeMiles' downgrade to B2 reflects its exposure to the weak credit profile and liquidity pressures of Avianca Holdings, S.A. (Avianca) which increases the risk of additional up streaming of cash flows to shareholders, either in the form of dividends, most likely financed with incremental debt, or anticipated purchases of airline tickets.
“Avianca”) and Fortress Transportation and Infrastructure Investors LLC (FTAI) today announced that, in accordance with Avianca’s fleet plan and the continued implementation of the “Avianca 2021” transformation plan, Avianca has agreed to sell and FTAI has agreed to purchase 14 aircraft (ten A318 and four A320 aircraft powered by CFM56-5B and V2500 engines, respectively) for an estimated aggregate price of approximately US$160 million. All transactions are expected to close in 2019, subject to customary closing conditions. Anko van der Werff, Avianca’s Chief Executive Officer, stated, “We are excited to execute a flexible phase-out plan that maximizes our fleet value.
BOGOTÁ, Colombia, July 22, 2019 /PRNewswire/ -- Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today announced that, in connection with its previously announced re-profiling plan for its capital structure, the company has temporarily deferred payments on certain long-term leases and on payment of principal on certain loan obligations. Avianca Holdings has engaged in discussions with its main strategic lenders and other creditors to establish terms that will preserve current liquidity levels and enable Avianca Holdings to advance its re-profiling plan, which is aimed at strengthening the company's financial position. Over the last two weeks, members of Avianca Holdings' senior management team have met with more than 50 of Avianca Holdings' strategic lenders and other creditors with the objective of reaching an agreement on the terms and conditions of the proposed deferrals.
- The new management of the company, with the backing of the recently appointed Board of Directors, implements the execution of the "Avianca 2021" plan. BOGOTA, Colombia, July 11, 2019 /PRNewswire/ -- Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) today announced that under its "Avianca 2021" strategy, the new management of Avianca Holdings is rapidly advancing in the execution of a plan to strengthen the company's competitiveness and implement necessary financial adjustments. One of the fundamental pillars of the plan is operational efficiency.