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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 />
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