Avianca Chairman Roberto Kriete’s Kingsland Holdings To Loan Avianca $50 Million USD For Working Capital

Avianca Holdings S.A. (NYSE: AVH) (BVC:PFAVH) stated today in an SEC filing that an affiliate of Kingsland Holdings Limited, controlled by Avianca chairman Roberto Kriete, has entered into a commitment to extend a short term secured loan of US$50 million to the Company, subject to customary closing conditions, including the negotiation and execution of definitive agreements, as well as receipt of all corporate approvals by the company. The funds will further support the working capital position of Avianca during the continued implementation of “Avianca’s 2021” plan and the reprofiling of its liabilities.

United Airlines Inc. and Kingsland Holdings Limited have reiterated their willingness to provide up to $250 million in financing to the company, subject to the conditions previously disclosed.