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Colombia's leading passenger and cargo airline<br />

pushes for major reforms<br />

GLOBAL NEWS<br />

BOGOTA, COLOMBIA: Avianca,<br />

the leading passenger and cargo<br />

airline in Colombia, under Avianca<br />

Holdings says it will rapidly advance<br />

the executive of its reform program<br />

to strengthen the company's<br />

finances and competitiveness.<br />

In a recent meeting, the new<br />

management says the company's<br />

"Avianca 2021" strategy will be<br />

rapidly executed in their operations.<br />

One of the fundamental pillars of<br />

Avianca 2021 is operational<br />

efficiency. Since November of last<br />

year, the company has begun a<br />

systematic effort to improve<br />

punctuality, achieving measurable<br />

improvement. It will continue to<br />

make changes in itineraries, routes,<br />

schedules and frequencies and,<br />

working with the Colombian<br />

aeronautical authority, simplify its<br />

operation and provide a better<br />

service to customers.<br />

"Supported by Kingsland, which<br />

since May 24 assumed control of the<br />

company, and with the know-how of<br />

United, strategic partner of Avianca,<br />

we will continue to make decisions<br />

that recover and strengthen the<br />

confidence of our clients and<br />

investors," said Roberto Kriete,<br />

Chairman of the Board of Directors<br />

of Avianca Holdings.<br />

Avianca Holdings Chief Financial<br />

Officer Adrian Neuhauser said their<br />

main goal is to achieve sustainable<br />

and competitive growth, doubling<br />

current operating margins while<br />

maintaining disciplined capital<br />

investments, generating consistent<br />

cash flow that would achieve<br />

conservative leverage levels by 2021.<br />

Specialized in ground support equipment<br />

& all types of steel works, repair & refurbishment of used equipment<br />

KNN INTERNATIONAL SERVICES FZC<br />

P.O. Box: 9509, SAIF Zone, Sharjah, United Arab Emirates. Tel: +9716 704 0890<br />

Mob: +971 50 364 8360. E-mail: kshaikh@knn-gse.com, Web: www.knn-gse.com

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