Avianca is recognized as 'Airline Turnaround of the Year' by CAPA Center for Aviation

Bogota, November 29, 2023. At the Annual Aviation Excellence Awards held in Abu Dhabi, CAPA- Center for Aviation recognized Avianca as "Airline Turnaround of the Year", rewarding the reinvention of its business model, its remarkable recovery in the last three years since its restructuring, as well as its excellent operational results and now being part of a larger aviation group in Latin America.

Adrian Neuhauser, CEO of Avianca said: “Avianca's turnaround has been the result of the hard work and commitment of each and every one of our 13.000 employees; the trust of our investors, who have bestowed on us their capital and allowed us to build and empower a world-class management team to reinvent one of the world's longest-lived airlines; the support of our partners, including travel agencies, equipment manufacturers, lessors, suppliers, airports and authorities; and, of course, the loyalty and commitment of our passengers, who every day put their travel in our hands. We are grateful to all of them for their key role in our success and look forward to continuing to work together for many years to come. A special thanks to CAPA for this recognition, which is tremendously meaningful to our management team as we leave behind our years of restructuring.".

CAPA highlighted the fact that the company managed to restructure and restore the world's second-oldest commercial airline while dealing with a pandemic as a "remarkable achievement" of Avianca's management team.

Likewise, CAPA pointed up that, after the restructuring, Avianca emerged as a more agile and focused company, with substantially reduced debt levels, attracting new investments and with a transformed operating model to be competitive on routes within the Americas while retaining part of its differential focus on long-haul routes.

Finally, CAPA recognized the collaborative work between Avianca and GOL under Abra Group, a broader strategy that will allow them to better compete in Latin America, and combine Avianca's broad connectivity in Colombia, Central America and Ecuador, as the main airline, with GOL's leadership in the Brazilian market, the largest in the region.

About CAPA:

The Center for Aviation, part of the Aviation Week Network within Informa Markets, is one of the world's most trusted sources of market intelligence for the aviation and travel industry. Thanks to its unmatched reputation for independence and integrity, it delivers all the information, with far-reaching data and in-depth insight into the news, issues and trends that are shaping the industry. Since its creation in 1990, CAPA has developed a formidable worldwide network of aviation researchers and analysts in Europe, North America, Asia and Australia. It provides its more than 8,000 members with access to more than 1,000 weekly news briefs, as well as analysis reports, research publications and a comprehensive data center with extensive company profiles, airline and airport databases, and much more. 

About Avianca:

Avianca includes Avianca - a Star Alliance member - LifeMiles and Avianca Cargo. In passenger transportation, Avianca, with more than 103 years of continuous operation since 1919, is the leading airline in Colombia, Ecuador, and Central America and has one of the largest air operations in Latin America with over 140 routes, 2,000 weekly frequencies and a fleet of more than 120 Airbus 320 and Boeing 787 Dreamliner aircraft, connecting to more than 70 destinations in 24 countries in the Americas and Europe. In 2022, Avianca transported 24.6 million customers with the operation of more than 187,000 flights. Its loyalty program, LifeMiles, is one of the largest in Latin America with more than 12.4 million members and 500 brand partners. In cargo transportation, Avianca Cargo is a leader in the region and is the main operator in different markets in the Americas. It serves more than 50 destinations with a fleet of Airbus 330 freighters, in addition to the operation in bellies of passenger aircraft. In 2022, Avianca Cargo transported more than 450,000 tons of cargo. Today, avianca has a team of more than 13,000 people committed to providing safe, convenient, affordable and friendly service to its customers. More information at www.avianca.com 

the more than 13,000 people who are part of our Avianca”.