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

25 February, 2019

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". [more - original PR]