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BOGOTÁ, Colombia and NEW YORK ,
Anko van der Werff, Avianca’s Chief Executive Officer, stated, “We are excited to execute a flexible phase-out plan that maximizes our fleet value. It has been terrific working with FTAI – we look forward to exploring new opportunities across our fleet with FTAI and continuing to build our relationship with them.”
“It is a pleasure to work closely with Avianca and their fleet management team while they transition from current generation to new generation aircraft,” said Joe Adams, FTAI’s Chairman and Chief Executive Officer. “FTAI’s expertise in the CFM and V2500 engine markets and bespoke approach have allowed us to maximize value for Avianca.”
Avianca is a commercial brand that focuses on integrating passenger and cargo transportation airlines and on-ground services with a team of more than 21,000 employees. The term “Avianca Holdings” refers to the consolidated entity. Solely with respect to
Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.
FTAI’s Aviation business focuses on mid-life aircraft and compatible engine types and pursues a creative and flexible approach to commercial aircraft and jet engine leasing. FTAI's activity in the aviation sector has been largely focused on the commercial jet engine leasing market, and FTAI has acquired engines either directly or in connection with the acquisition of commercial aircraft. As of
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding the ability to close the transactions, expected timing for such closings and the estimated aggregate purchase price. These statements are based on Avianca management’s and FTAI management’s current expectations and beliefs, and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond Avianca’s and FTAI’s control. Avianca and FTAI can give no assurance that their expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the relevant sections in Avianca’s Annual Report on Form 20-F and Reports of Foreign Private Issuers on Form 6-K, which are available on Avianca’s website www.aviancaholdings.com, as well as the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in FTAI’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on FTAI’s website www.ftandi.com. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Avianca or FTAI to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Avianca and FTAI expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Avianca’s or FTAI’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
For further information, please contact:
Avianca Investor Relations Office
+571 587 77 00 ext, 2474, 1349
Source: Fortress Transportation and Infrastructure Investors LLC