Kingsland Holdings Issues Statement on New York State Court Litigation

Kingsland Holdings Limited (“Kingsland”), the largest minority shareholder of Avianca Holdings S.A. (“Avianca”), Avianca, the majority shareholder Synergy Aerospace Corp. (“Synergy”), United Airlines and various officers thereof today dismissed without prejudice all the litigation they had brought against each other in the Supreme Court of the State of New York.

Kingsland and the other parties agreed to discontinue that litigation in order to continue to focus on ongoing business negotiations that, if successful, would resolve their outstanding differences, and are hopeful that they can complete those negotiations in the near future. If those negotiations cannot be completed successfully, the “without prejudice” dismissal of the litigation allows the parties to bring new actions against each other addressing existing and future disputes.