NEW YORK & BOGOTÁ, Colombia--(BUSINESS WIRE)--Avianca Holdings S.A. and Kingsland Holdings Ltd. today agreed to withdraw their respective lawsuits filed in New York State Supreme Court. The parties jointly filed a stipulation with the court dismissing the actions without prejudice.
Avianca continues to negotiate a strategic alliance with United Airlines and hopes to finalize an agreement by the end of the year.
“As we’ve said all along, Kingsland’s lawsuit was meritless and filed prematurely, and we are pleased that the parties have reached an agreement to dismiss both actions,” said Avianca CEO Hernán Rincón. “Avianca is now looking beyond the litigation, and we are pleased that negotiations with United are progressing. Moving forward, Avianca will continue to focus on serving our passengers, advancing our strategic goals, and developing our business across Latin America.”
About Avianca Holdings S.A.
Avianca Holdings S.A. (NYSE:AVH) (BVC:PFAVH) comprises the airlines: Aerovías del Continente Americano S.A. Avianca (Avianca), Tampa Cargo S.A.S., incorporated in Colombia, Aerolineas Galapagos S.A. - Aerogal, incorporated in Ecuador, and the TACA Group companies: TACA International Airlines S.A., incorporated in El Salvador, Lineas Aereas Costarricenses S.A., LACSA, incorporated in Costa Rica, Trans Américan Airlines S.A., incorporated in Perú, Servicios Aéreos Nacionales S.A., SANSA, incorporated in Costa Rica, Aerotaxis La Costeña S.A., incorporated in Nicaragua, Isleña de Inversiones S.A. de C.V., ISLEÑA, incorporated in Honduras and Aviateca S.A., incorporated in Guatemala.