Adrian Neuhauser appointed new Chief Financial Officer of Avianca Holdings

The investment banking expert will assume starting this July his new role as leader of the financial area of the Company.

Bogota, June 26, 2019. Avianca Holdings S.A. informs that, Adrian Neuhauser takes office this July as Chief Financial Officer of Avianca Holdings, with a main assignment to strengthen the financial position of the Organization. In turn, Roberto Held will take up new duties as Senior Vice President of Treasury and directly report to the CFO. These changes are essential to continue the process that seeks to take the Company from a growth model to one of profitability.

Mr. Neuhauser will be responsible for leading the financial team of the Organization, backed by his more than 20 years of experience in the financial sector and his focus on investment banking. Mr. Neuhauser was Managing Director at Credit Suisse covering airlines throughout the Americas during the last three years. Previously, he held senior positions at Deutsche Bank, Bank of America as well as Merill Lynch.

“Adrian’s experience as an investment banker is fundamental to successfully complete our corporate transformation plan. We hope that his leadership complements our team and allows us to accelerate the goals of profitability and strengthening of the capital structure of the Organization,” assured Roberto Kriete, Chairman of the Board of Directors of Avianca Holdings.
In turn, Mr. Neuhauser said: “I take on this challenge with great enthusiasm, all my efforts will be focused on making the Company more profitable every day, generating greater value for shareholders and investors.”

For his part, Roberto Held will have new responsibilities within the Company as Senior Vice President of Treasury. Mr. Held accompanied the execution of the new strategic plan of the Organization focused on profitability; closed the renegotiation of the order with Airbus; and reduced financial commitments by more than US$2.6bn. Likewise, he led the search for efficiencies, strengthening our cash and savings position through the CPI savings program, with goals of US$100M in 2018, and the reduction of CASK Ex Fuel in the last 2 years in a consistent manner.

About Avianca Holdings:
Avianca is the commercial brand that identifies the passenger, cargo transportation airlines and on ground services integrated in the Holding. With a team of more than 21,000 employees. On February 22, 2019, the Holding announced its transformation plan, with the purpose of migrating from an accelerated growth model to one of profitability and competitiveness, thanks to actions such as the sale of non-strategic business units, adjustments to its route networks allowing the company to focus on higher demand and greater profitability routes, the re-negotiation of fleet incorporation with Airbus, among other actions.