Avianca issued an extensive re-profiling of its fleet buying programme, following a $375m recapitalisation.
- In cooperation with Airbus, the Company has reduced its firm commitments to 88 A320neo aircraft (from 108)
- Previously scheduled firm A320neo family deliveries in 2020 through 2024 have been deferred or cancelled
- The 88 remaining commitments are now scheduled for delivery in 2025 through 2028 (20 per year) with the balance in 2029 (8)
- These agreements provide comprehensive financial benefits, with significant Capex reduction in the period through the end of 2024
- Separately, Avianca has agreed to enter into 12-year operating leases for up to 12 A320neo aircraft with BOC Aviation
- Deliveries to occur after 2023, consistent with the Avianca 2021plan
- Finally, Avianca reached a mutually beneficial agreement with Boeing with regards to the outstanding 787-9 deliveries, which have been phased over a longer period.