CEO: Avianca pivots ‘away from a growth focused to profitability focused business model’

    Avianca Holdings CEO Hernan Rincon commented (22-Feb-2019) on Avianca‘s strategy, stating: “We made significant strides on our strategy to pivot away from a growth focused to profitability/liquidity focused business model”. The carrier announced plans to sell off Avianca’s interest in a number of non-core shareholdings in Nov-2018. Mr Rincon added: “We will continue to strengthen Avianca’s balance sheet and improve our overall profitability as we divest other assets no longer relevant to our core strategy”. The airline reported (22-Feb-2019) its international routes to Europe achieved an average consolidated load factors of 85.7% for 4Q0218. Domestic Colombia routes averaged 82.9% load factor. [more – original PR]