Avianca CEO: 1Q2019 a ‘difficult start of the year’ in a ‘challenging environment’

    Avianca Holdings interim CEO Renato Covelo commented (15-May-2019) on 1Q2019 operations and results, stating: “Avianca Holdings had a difficult start of the year”. He proceeded to describe a “challenging environment” created by the foreign exchange pressures on fuel prices and “other obstacles”. Mr Covelo added that the carrier was able to “advanced important strategic objectives… on several different fronts. These are initial indications of our success in stabilising our business, as we pivot from a growth-driven strategy to now focus on our core business units, namely our passenger, loyalty and cargo operations, with a strong emphasis on profitability and strengthened cash generation”. [more – original PR]