NYSE to Suspend Trading Immediately in Avianca Holdings S.A. (AVH) and Commence Delisting Proceedings

Bogota, May 12, 2020 – Avianca Holdings S.A. (NYSE: AVH, BVC: PFAVH) (the “Company” or “Avianca”) informs that the New York Stock Exchange (“NYSE”) announced on May 11, 2020 that, as the Company believes is its customary practice, the NYSE has suspended trading in the Company’s American Depositary Shares (the “ADSs”), each representing eight preferred shares of the Company, as a result of the Company’s filing on May 10, 2020 of voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.

The NYSE notified the Company that it will also apply to the Securities and Exchange Commission to delist the ADSs once any applicable procedures are completed, including any appeal by the Company of the NYSE staff’s decision.

Additionally, the Company informs that the Colombian Stock Exchange (Bolsa de Valores de Colombia, “BVC”) notified Avianca that (i) the Company’s preferred shares continue to trade on the BVC, (ii) the Company’s preferred shares continue to be ineligible for repo transactions and are inadmissible as collateral for margin calls in other types of transactions, and (iii) starting on May 11, 2020, no futures or options contracts in respect of Avianca’s preferred shares may be entered into.