Hernán Rincón Chief Excecutive for Avianca

Bogotá, March 31, 2016

The Board of Directors of Avianca Holdings S.A. and Aerovias del Continente Americano S.A. Avianca appointed Mr. Hernan Rincón as Chief Executive Officer for both Companies.

The Chief Executive Officer will take over the new role on Monday, April 4th.

German Efromovich, Chairman of the Board of Directors of Avianca Holdings S.A. and Aerovias del Continente Americano S.A. Avianca informed of the appointment of Hernán Rincón as the new Chief Executive Officer (CEO) of Avianca Holdings S.A. and Avianca S.A

Mr. Rincón, who was previously CEO for Microsoft Latin America, will replace Alvaro Jaramillo Buitrago, who was appointed interim CEO after Fabio Ramirez Villegas stepped down as Chief Executive Officer.

German Efromovich, expressed: “Appointing Hernán Rincón as the head of Avianca Holdings S.A. and Avianca S.A. coincides with the beginning of a new phase in which strengthening of the organization is crucial to cope with the changes of the environment. The latter, however, requires a rigorous adjustment of our strategy in order to maintain Avianca’s high quality of service and business competitiveness, after almost 100 years of continuous service to travelers in Colombia, Latin America and the world. A challenge that, I’m sure, Mr. Rincón will know how to take on supported by the talent, vision, creativity and leadership that have characterized him throughout his successful career”.

Hernán Rincón, the newly appointed CEO, stated: “I feel deeply honored to assume a leading role in an organization whose mission includes maintaining and expanding Latin America’s connectivity to the world, generating development, employment and quality of life for hundreds of men and women who in one way or another are part of Avianca Holdings, its subsidiaries and its large network of suppliers and commercial partners. With the energy these new challenges demand and the support of the more than twenty-one thousand employees that are part of this organization I will work relentlessly to generate long-term value for our clients, commercial partners and investors prioritizing operational efficiency and superior service as the only way to maintain the preference and loyalty of thousands of travelers that choose Avianca on a daily basis to travel to America and the World”.

Hernan Rincón, Avianca Holdings’ new CEO, has had a remarkable executive career in prestigious companies in the technology and telecommunications industries such as Microsoft, Ferag Americas, Cocelco and Grupo Unysis. Mr. Rincon holds a Bachelor of Arts degree in Mathematics and Computer Science from the State University of New York and a Master of Science degree in Industrial Engineering from the Universidad de los Andes, in Colombia, Mr. Rincon also holds a Masters degree from the John F. Kennedy School of Government, where he held a prestigious Edward S. Mason Fellowship.

About Avianca Holdings S.A.

Avianca Holdings S.A. (NYSE: AVH) (BVC:PFAVH) comprises the airlines: Aerovías del Continente Americano S.A. - Avianca, Tampa Cargo S.A., incorporated in Colombia, Aerolineas Galapagos S.A. - Aerogal, incorporated in Ecuador, and the TACA Group companies: TACA International Airlines S.A., incorporated in El Salvador, Lineas Aereas Costarricenses S.A. - LACSA, incorporated in Costa Rica, Transamérican Airlines S.A., incorporated in Perú, Servicios Aéreos Nacionales S.A. - SANSA, incorporated in Costa Rica, Aerotaxis La Costeña S.A., incorporated in Nicaragua, Isleña de Inversiones S.A. de C.V. - ISLEÑA, incorporated in Honduras and Aviateca S.A., incorporated in Guatemala. Avianca is the commercial brand of Avianca Holdings S.A. that identifies Latin American airlines dedicated to passenger and cargo transport. With a human team comprised of more than 20,500 collaborators, the airlines directly service more than 105 destinations in 28 countries in America and Europe, with the aid of a modern fleet of 176 short, medium and long range aircraft. Through its membership in Star Alliance, Avianca’s travelers have access to destinations in 192 countries and 1.300 airports around the world. With 18.500 daily departures, passengers have access to 98% of the world’s countries. In addition to its passenger air transportation services, Avianca offers a portfolio of tourism services, cargo transport, courier and aeronautical assistance, through its Avianca Tours, Avianca Cargo, Deprisa and Avianca Services business units. In 2015 Avianca transports 28,2 million passengers. For more information, visit avianca.com, Facebook.com/aviancafanpage and @Avianca_com on twitter.