Avianca cancels/defers 2020-2024 deliveries and reduces commitments from 108 to 88 A320neos

    Avianca Holdings announced (07-Jan-2020) an agreement with Airbus to reduce Avianca‘s A320neo firm commitments from 108 to 88 aircraft. Previously scheduled firm A320neo family deliveries in 2020 through to 2024 were deferred or cancelled. The 88 remaining commitments are scheduled for delivery in 2025 through 2028 (20 per year) with the balance in 2029 (eight aircraft). The agreement will provide “significant” capex reduction in the period to the end of 2024. Separately, Avianca agreed to enter into 12 year operating leases for up to 12 A320neo aircraft with BOC Aviation for deliveries to occur after 2023. Avianca also reached a “mutually beneficial agreement” with Boeing with regards to outstanding 787-9 deliveries. [more – original PR]