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Avianca head Hernán Rincón says the airline "will continue negotiations with United" to reach an alliance that he believes is in the best interest of the company and shareholders.

During peak summer season, from June 8 to August 14, United Airlines will make two flights per day between Newark and Bogotá.

Avianca's filing calls Roberto Kriete of Kingsland a “disloyal director who has worked actively to undermine the company’s strategic goals.”

Though adding a strategic partner could be a positive development, Fitch Ratings views Avianca's liquidity as low.