Company Quick10K Filing
Avianca Holdings
20-F 2018-12-31 Filed 2019-04-29
20-F 2017-12-31 Filed 2018-05-01
20-F 2016-12-31 Filed 2017-05-01
20-F 2015-12-31 Filed 2016-04-29
20-F 2014-12-31 Filed 2015-04-30
20-F 2013-12-31 Filed 2014-04-30

Avianca Holdings Financials

AVH Metrics, Comps, Filings

Quarterly | Annual

Business

We are an airline holding company incorporated in Panama as a result of Avianca and Taca's combination in February 2010. The combination of Avianca and Taca was announced and agreed in October 2009 by their respective controlling shareholders who, after obtaining approval by antitrust and regulatory authorities, contributed their respective interests in Avianca and Taca to the Company. Avianca Holdings S.A. (formerly AviancaTaca Holding S.A.) changed its domicile from the Commonwealth of the Bahamas to Panama and adopted its by-laws under Panamanian law on March 2, 2011.

In May 2011, we completed our initial public offering in Colombia on the Colombian Stock Exchange. In connection with that public offering, we sold 100,000,000 preferred shares for COP 500,000 million (approximately $279 million as of such date). In May 2013, we issued $300 million in aggregate principal amount of 8.375% Senior Notes due 2020, our first offering in the international capital markets. In November 2013, we completed our initial public offering in the United States, listing our ADSs on the NYSE. In April 2014, we issued $250 million in aggregate principal amount of additional 8.375% Senior Notes due 2020, which were first issued in May 2013.

In December 2014, we issued our first aircraft financing through a private placement. The transaction financed three new aircraft deliveries (A319, A321 and B787) for Avianca and totaled $152.9 million. Since 2015, we issued two more aircraft financings through private placements. The first transaction financed eight aircraft (one A319, three A320, two A321 and two B787) for a total amount of $384.2 million. The second transaction financed three aircraft (two A319 and one B787) for a total amount of $150.7 million. During 2017, we financed the purchase of three aircraft through a Japanese operating lease with a call option structure "JOLCO", for an aggregate amount of $207.5 million. In August 2018, we entered into a credit and guaranty agreement for a total amount of $100.0 million with the proceeds being used for fleet renovation and general corporate purposes.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Azul (AZUL) 25,351 46% 28.4 -3% 2,948 2,157 8,149 3,714 -81 889 25,239
United Continental (UAL) 21,683 58% 4.8 6% 52,611 41,080 43,259 25,181 3,010 6,935 33,548
American Airlines Group (AAL) 12,819 55% 6.1 3% 59,995 60,113 45,768 24,980 1,686 5,331 32,691
Alaska Air Group (ALK) 8,498 59% 5.6 6% 12,993 8,662 8,781 5,152 769 1,517 8,482
Jetblue Airways (JBLU) 5,642 62% 4.9 5% 11,918 7,119 8,093 5,054 569 1,372 6,681
Skywest (SKYW) 2,946 13% 12.5 0% 6,598 4,481 3,032 387 0 451 5,647
Life Time Fitness (LTM) 2,775 9% 11.8 4% 2,729 1,599 1,310 124 111 333 3,942
Spirit Airlines (SAVE) 2,489 0% 6.4 5% 6,575 4,395 3,724 0 346 585 3,757
Allegiant Travel (ALGT) 2,391 0% 8.8 6% 2,834 2,008 1,380 0 172 398 3,496
Air Transport Services (ATSG) 1,508 0% 8.3 4% 2,745 2,264 1,330 0 101 350 2,913
Hawaiian Holdings (HA) 1,251 71% 4.1 4% 4,065 2,998 2,822 2,004 174 356 1,444
Mesa Air (MESA) 241 0% 5.3 3% 1,452 1,026 723 0 48 197 1,051
Air T (AIRT) 42 0% 3.6 7% 143 109 246 0 10 25 91
EHang Holdings (EH)
Volaris (VLRS) 0% 22,311 13,139 0 0 0 0 -0
Ryanair Holdings (RYAAY) 0% 13,251 8,036 0 0 0 0 -35
Avianca Holdings (AVH) 0% 7,119 6,126 0 0 0 0 -265
China Southern Airlines (ZNH) 0% 246,949 168,480 0 0 0 0 -6,909
China Eastern Airlines (CEA) 0% 239,017 177,416 0 0 0 0 -0
Copa Holdings (CPA) 0% 4,087 2,247 0 0 0 0 -0

Balance Sheet ($MM)2017-12-312018-12-31
Cash491265
Accounts Receivable
Inventory
PP&E
Assets6,8617,119
Accounts Payable
Long-Term Debt
Liabilities5,5226,126
Stockholders' Equity
Income Statement ($MM)2017-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax
Net Income
Cash Flow ($MM)2017-12-312018-12-31
Cash Operating
Cash Investing
Cash Financing