Avianca Holdings SA (ADR) (AVH) was Upgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Underperform ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 11, 2016.
Avianca Holdings SA (ADR) opened for trading at $5.84 and hit $6.05 on the upside on Friday, eventually ending the session at $6, with a gain of 2.56% or 0.15 points. The heightened volatility saw the trading volume jump to 1,01,203 shares. Company has a market cap of $748 M.
Avianca Holdings SA is a Panama-based company engaged through its subsidiaries in the provision of air transportation services for passengers and commercial purposes. The Company was originally established as a strategic alliance between Aerovias del Continente Americano SA (AVIANCA) and Grupo TACA Holdings Limited (GTH) and it mainly operates in North Central and South America the Caribbean and Europe. In addition through codeshare agreements the Company is active in the operation of other international passenger air routes. As of December 31 2011 the Company owned such subsidiaries as Latin Airways Corporation and LifeMiles Corporation among others. On December 28 2012 the merger of subsidiaries Latin Airways Corporation as absorbing company with Synergy Ocean Air Colombia SAS and Soac 2 SAS was formalized. On June 18 2013 the Company received the first out of 15 ATR 72-600 a turbo-propelled aircraft from ATR a company engaged in regional aircraft.