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dcajet
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Avianca's Chairman: The airline is broke

Tue Aug 27, 2019 1:57 am

Roberto Kriete, CEO. Speaking to a group of Avianca's associates:

* The airline is broke

* It is currently not paying its creditors, aircraft lessors & banks

* They are renegotiating and restructuring their debts

* Goal is to buy time to execute changes that will return the airline to profitability and be able to honor its debts

* It is urgent to turn around the airline; there is limited time, financial institutions won't wait forever

* First step has been cutting routes that should have never been started

* The airline has four months to execute all the changes that should put the airline back on the road to profits

https://twitter.com/colombialaire/statu ... 7306852358
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LAXintl
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:00 am

Yup and that is why they are shopping the "Avianca 2021" strategy around to stakeholders hoping to get buy in fast.
From the desert to the sea, to all of Southern California
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:05 am

Chapter 11 on the cards?
Keep calm and wash your hands.
 
TWA902fly
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:08 am

dcajet wrote:
Chapter 11 on the cards?


“Chapter 11” is a US bankruptcy law. Avianca is not a US company.

‘902
life wasn't worth the balance, or the crumpled paper it was written on
 
MARSHAL1
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:10 am

I wonder if TACA is broke too or if it's profitable.
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:11 am

TWA902fly wrote:
dcajet wrote:
Chapter 11 on the cards?


“Chapter 11” is a US bankruptcy law. Avianca is not a US company.

‘902


I am no legal expert, yet back in 2003...

THE AVIANCA MIRACLE

On March 21, 2003, Avianca Airlines filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code in bankruptcy court in New York City. Avianca emerged from Chapter 11 on December 10, 2004, as a reorganized company, adequately capitalized and with a cost structure that the Company projected could be sustained well into the future. Thus began and ended the story of one of the most remarkable bankruptcy cases in United States history.


https://www.sgrlaw.com/ttl-articles/872/
Keep calm and wash your hands.
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:13 am

MARSHAL1 wrote:
I wonder if TACA is broke too or if it's profitable.


There is no longer an independent TACA. It has all been folded into Avianca Holdings. Roberto Kriete is the Holding's CEO and his family is the one that founded TACA in El Salvador.
Keep calm and wash your hands.
 
NWADTWE16
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:18 am

what the heck happened to them? They are a great airline, this is extremely sad, and I hope they find a way.
I haven't been everywhere, but it's on my list!
 
phxa340
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:26 am

Is this the same airline that flies you from LAX-BCN in business for 1900 bucks regularly ? If it is , I’m not surprised (but might be mixing up the Aviancas).
 
juliuswong
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:44 am

NWADTWE16 wrote:
what the heck happened to them? They are a great airline, this is extremely sad, and I hope they find a way.

Over expansion with grand plan to fight LATAM Airlines Group, gobbled down too many debt ridden airlines, and purchased too many aircraft, new and used, in short period of time. The soured relationship between Kriete family and Germán Efromovich didn't help either.
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dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 3:31 am

phxa340 wrote:
Is this the same airline that flies you from LAX-BCN in business for 1900 bucks regularly ? If it is , I’m not surprised (but might be mixing up the Aviancas).


While I have never heard of that offer, there is only one Avianca left. Routing has to be LAX-BOG-BCN. The two cousins from South America. Avianca Argentina and Avianca Brazil are bankrupt and gone for good.
Keep calm and wash your hands.
 
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chepos
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:12 am

AV in crisis again, sigh! At this point AV should focus on their main strength, the Colombian market. Fly their most profitable routes in North America, South America, Europe and domestic routes. Shed the marginal fat even if results in serious shrinkage. Keeping up with the Joneses has not worked for them.


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seat1a
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:19 am

chepos wrote:
AV in crisis again, sigh! At this point AV should focus on their main strength, the Colombian market. Fly their most profitable routes in North America, South America, Europe and domestic routes. Shed the marginal fat even if results in serious shrinkage. Keeping up with the Joneses has not worked for them.


Sent from my iPhone using Tapatalk


What are key North and South American markets from Bogota?
 
Scarebus34
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:20 am

I am pretty sure United is going to be calling a lot of the shots here as they have a lot invested in the success of Avianca... no doubt they'll likely turn it around. They are the ones who removed Efromovich and would essentially own 51% of Avianca if it wasn't for the pilots contract. They ceded voting rights to Kriete who is the second largest shareholder.
 
FSDan
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:27 am

seat1a wrote:
chepos wrote:
AV in crisis again, sigh! At this point AV should focus on their main strength, the Colombian market. Fly their most profitable routes in North America, South America, Europe and domestic routes. Shed the marginal fat even if results in serious shrinkage. Keeping up with the Joneses has not worked for them.


Sent from my iPhone using Tapatalk


What are key North and South American markets from Bogota?


In North America, MIA and NYC have to be near the top. Probably MEX and MCO as well. I'm not very familiar with the intra-South American market, but I'd venture to guess the other major capitols like LIM, EZE, and GRU are important.
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chepos
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:33 am

seat1a wrote:
chepos wrote:
AV in crisis again, sigh! At this point AV should focus on their main strength, the Colombian market. Fly their most profitable routes in North America, South America, Europe and domestic routes. Shed the marginal fat even if results in serious shrinkage. Keeping up with the Joneses has not worked for them.


Sent from my iPhone using Tapatalk


What are key North and South American markets from Bogota?


I can only guess, not an AV insider. But of course you have your usual suspects, MIA, JFK and MEX in North America.

EZE, SCL, LIM, EZE, GRU, VVI, etc in South America. The financials within the airline may tell another story though.


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Fly the Flag!!!!
 
grbauc
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:36 am

dcajet wrote:
phxa340 wrote:
Is this the same airline that flies you from LAX-BCN in business for 1900 bucks regularly ? If it is , I’m not surprised (but might be mixing up the Aviancas).


While I have never heard of that offer, there is only one Avianca left. Routing has to be LAX-BOG-BCN. The two cousins from South America. Avianca Argentina and Avianca Brazil are bankrupt and gone for good.



Yes I believe this is the one he's talking about. Im always tempted to take them to EU but I end up finding a fare close enough 3k-4k on OW or the Delta grp..
 
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janders
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:14 am

chepos wrote:
AV in crisis again, sigh! At this point AV should focus on their main strength, the Colombian market. Fly their most profitable routes in North America, South America, Europe and domestic routes. Shed the marginal fat even if results in serious shrinkage. Keeping up with the Joneses has not worked for them.


Keep in mind AV is more than Colombia.

There is the significant Central American operation that came with TACA.
"We make war that we may live in peace." -- Aristotle
 
xiaotung
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:22 am

https://www.ch-aviation.com/portal/news ... et-airways

Meanwhile Synergy Group is bidding for 9W. So they have the cash. What is Sydney's current relationship with AV?
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:39 am

xiaotung wrote:
https://www.ch-aviation.com/portal/news/80988-avianca-owner-bids-for-jet-airways

Meanwhile Synergy Group is bidding for 9W. So they have the cash. What is Sydney's current relationship with AV?


Sigh... he also tried to bid for Alitalia and was vetoed by Delta & Ferrovie dello Stato. The guy (Efromovich) has little to no credibility left.

To answer your question, Synergy still owns a good chunk of Avianca Holdings, but technically, since it did not meet the terms of the United loan and that was the collateral, said participation is up in the air. United holds a lot of power over Avianca. German Efromovich has been sacked as the airline's CEO.
Keep calm and wash your hands.
 
xiaotung
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:46 am

dcajet wrote:
xiaotung wrote:
https://www.ch-aviation.com/portal/news/80988-avianca-owner-bids-for-jet-airways

Meanwhile Synergy Group is bidding for 9W. So they have the cash. What is Sydney's current relationship with AV?


Sigh... he also tried to bid for Alitalia and was vetoed by Delta & Ferrovie dello Stato. The guy (Efromovich) has little to no credibility left.

To answer your question, Synergy still owns a good chunk of Avianca Holdings, but technically, since it did not meet the terms of the United loan and that was the collateral, said participation is up in the air. United holds a lot of power over Avianca. German Efromovich has been sacked as the airline's CEO.


So theoretically UA owns a good chunk of AV Holdings and you wouldn't expect them to let it go under, would you? But there were reports to say that UA unions would not let UA make a move on AV so the collateral means nothing?
 
Scarebus34
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:55 am

xiaotung wrote:
dcajet wrote:
xiaotung wrote:
https://www.ch-aviation.com/portal/news/80988-avianca-owner-bids-for-jet-airways

Meanwhile Synergy Group is bidding for 9W. So they have the cash. What is Sydney's current relationship with AV?


Sigh... he also tried to bid for Alitalia and was vetoed by Delta & Ferrovie dello Stato. The guy (Efromovich) has little to no credibility left.

To answer your question, Synergy still owns a good chunk of Avianca Holdings, but technically, since it did not meet the terms of the United loan and that was the collateral, said participation is up in the air. United holds a lot of power over Avianca. German Efromovich has been sacked as the airline's CEO.


So theoretically UA owns a good chunk of AV Holdings and you wouldn't expect them to let it go under, would you? But there were reports to say that UA unions would not let UA make a move on AV so the collateral means nothing?

United couldn't assume 51% ownership... so instead, they put the #2 shareholder in charge. Synergy is no longer running the airline.
 
RCS763AV
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:13 pm

Avianca clarifies Kirete's statement: We're not broke, but our financial situation is dire. However, we're taking the necessary steps to solve it. Also, the video was illegally taken during a closed door directives meeting in El Salvador.

https://www.portafolio.co/negocios/empresas/avianca-esta-quebrada-la-compania-aclara-declaraciones-de-kriete-532962

However dire the situation is, words taken out of context for bad publicity don't help. Was this an Efomovich doing? The poor guy went from savior to clown in just a few months. Pathetic.
 
A388
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:20 pm

These important developments are better if the source is the airline (group) itself. Is there any official press release from Avianca themselves about this instead of any other media outlet?

A388
 
FlyHossD
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 2:45 pm

Scarebus34 wrote:
...I am pretty sure United is going to be calling a lot of the shots here as they have a lot invested in the success of Avianca... no doubt they'll likely turn it around. They are the ones who removed Efromovich and would essentially own 51% of Avianca if it wasn't for the pilots contract. They ceded voting rights to Kriete who is the second largest shareholder.


dcajet wrote:
xiaotung wrote:
...To answer your question, Synergy still owns a good chunk of Avianca Holdings, but technically, since it did not meet the terms of the United loan and that was the collateral, said participation is up in the air. United holds a lot of power over Avianca. German Efromovich has been sacked as the airline's CEO.


xiaotung wrote:
...So theoretically UA owns a good chunk of AV Holdings and you wouldn't expect them to let it go under, would you? But there were reports to say that UA unions would not let UA make a move on AV so the collateral means nothing?



It seems that both of you see the basis for UAL ALPA's grievance with UAL as their contract does not permit ownership of another airline. Yet they now effectively have at least partial control of AV. My suspicion is that this matter will be settled as part of the next pilot contract, but it does illustrate how important Scope is to the pilot group and why UAL ALPA is so unlikely to cede anything (fool me once, shame on you; fool me twice, shame on me).
My statements do not represent my former employer or my current employer and are my opinions only.
 
trent772
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 3:02 pm

A388 wrote:
These important developments are better if the source is the airline (group) itself.


At this point Avianca will only try and spin this the best way they can and avoid an even bigger meltdown, they may not be a trustworthy source right now.

RCS763AV wrote:
words taken out of context for bad publicity don't help.


How were Kriete’s words taken out of context? To me, his message is clear and precise.
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 3:10 pm

RCS763AV wrote:
Avianca clarifies Kirete's statement: We're not broke, but our financial situation is dire. However, we're taking the necessary steps to solve it. Also, the video was illegally taken during a closed door directives meeting in El Salvador.

https://www.portafolio.co/negocios/empresas/avianca-esta-quebrada-la-compania-aclara-declaraciones-de-kriete-532962

However dire the situation is, words taken out of context for bad publicity don't help. Was this an Efomovich doing? The poor guy went from savior to clown in just a few months. Pathetic.


Dire, schmire. This whole episode and the airline having to "clarify": what the CEO says, no matter where it was said, is messy. Out of context exactly how? Broke is broke, no matter if the doors are closed and if the video was taken under cover. The rest is spin from an airline that seems to have lost its north. As the old saying goes "no aclares, que oscurece"...
Keep calm and wash your hands.
 
A388
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 3:36 pm

trent772 wrote:
A388 wrote:
These important developments are better if the source is the airline (group) itself.


At this point Avianca will only try and spin this the best way they can and avoid an even bigger meltdown, they may not be a trustworthy source right now.

RCS763AV wrote:
words taken out of context for bad publicity don't help.


How were Kriete’s words taken out of context? To me, his message is clear and precise.


I can see your point but that the same time Kriete's word were indeed taken out of context. Media outlets often exaggerate. They make the reader believe the airline is broke but they aren't. They are having problems with their payments but this doesn't mean they are broke. The media can also spin this the best way they can.

A388
 
devron
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 3:48 pm

Nice I have 11 flight booked with them in October 5 in business hope they hold un untill then...
 
TWA902fly
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:04 pm

dcajet wrote:
TWA902fly wrote:
dcajet wrote:
Chapter 11 on the cards?


“Chapter 11” is a US bankruptcy law. Avianca is not a US company.

‘902


I am no legal expert, yet back in 2003...

THE AVIANCA MIRACLE

On March 21, 2003, Avianca Airlines filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code in bankruptcy court in New York City. Avianca emerged from Chapter 11 on December 10, 2004, as a reorganized company, adequately capitalized and with a cost structure that the Company projected could be sustained well into the future. Thus began and ended the story of one of the most remarkable bankruptcy cases in United States history.


https://www.sgrlaw.com/ttl-articles/872/


Interesting... I wonder how that works? Is it due to the # of US creditors? Or the fact that their fleet is US-registered? Does anybody know?

'902
life wasn't worth the balance, or the crumpled paper it was written on
 
IWMBH
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:16 pm

devron wrote:
Nice I have 11 flight booked with them in October 5 in business hope they hold un untill then...


Did you use your credit card?
 
Etheereal
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:54 pm

TWA902fly wrote:
dcajet wrote:
Chapter 11 on the cards?


“Chapter 11” is a US bankruptcy law. Avianca is not a US company.

‘902

Avianca has stocks on the NYSE and is part of the Synergy Group.
 
abrelosojos
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 4:54 pm

JESUS. They are in such a mess. It needs to besides Ebramovich though. Their entire commercial team is a joke. Sack all of them, and start again. I hope the new CEO is good.

Saludos,
Alex
Live, and let live.
 
Scarebus34
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:01 pm

abrelosojos wrote:
JESUS. They are in such a mess. It needs to besides Ebramovich though. Their entire commercial team is a joke. Sack all of them, and start again. I hope the new CEO is good.

Saludos,
Alex

Kriete knows what he is doing. He used to run TACA before they merged with Avianca.
 
pipeafcr
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:04 pm

Scarebus34 wrote:
abrelosojos wrote:
JESUS. They are in such a mess. It needs to besides Ebramovich though. Their entire commercial team is a joke. Sack all of them, and start again. I hope the new CEO is good.

Saludos,
Alex

Kriete knows what he is doing. He used to run TACA before they merged with Avianca.


If he knew what he was doing he wouldn’t have sold taca. He really just messed up the reputation of the airline even if it’s true what he said.
Felipe Carrillo
 
Avianca
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:09 pm

devron wrote:
Nice I have 11 flight booked with them in October 5 in business hope they hold un untill then...


hope the same, use them at least on 80 flights per year….
Colombia es el Mundo Y el Mundo es Colombia
 
rjmf22
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:26 pm

Is Avianca as a whole broke, or is it smaller "sub-airlines," such as Avianca Costa Rica, or Avianca Ecuador?
United Airlines
 
hohd
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:29 pm

Recently went on Avianca from BOG to Curacao, the flight was full, but they are rather generous with checked luggage. They are very dominant in BOG. They fly from Madrid to Cali, Medellin and Bogota. Perhaps those flights are not profitable except BOG.
 
devron
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 5:37 pm

IWMBH wrote:
devron wrote:
Nice I have 11 flight booked with them in October 5 in business hope they hold un untill then...


Did you use your credit card?


Miles
 
Wayfarer515
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 6:01 pm

I have no doubt that one of Efromovich guys leaked the video, he has some personal issues with Mr. Kriete so there is some cleanup still pending inside the inner circles. I hope Synergy's shares are bought out as soon as possible so that Efromovich clown disappears forever from the scene. Let's hope Mr.Kriete and the new CEO can pull it off.
 
dcajet
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Re: Avianca's CEO: The airline is broke

Tue Aug 27, 2019 9:31 pm

Scarebus34 wrote:
abrelosojos wrote:
JESUS. They are in such a mess. It needs to besides Ebramovich though. Their entire commercial team is a joke. Sack all of them, and start again. I hope the new CEO is good.

Saludos,
Alex

Kriete knows what he is doing. He used to run TACA before they merged with Avianca.


I think he means Anko van der Werff, who is now the new Avianca's CEO. Kriete is the Chairman of the Board. My bad with the thread title. Moderators. could the title be changed to Avianca's Chairman? Thanks!
Keep calm and wash your hands.
 
BML87
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Re: Avianca's Chairman: The airline is broke

Tue Aug 27, 2019 10:22 pm

Flew them in July twice.

RTB-SAL, maybe 10 passengers on board.
SAL-GUA, full flight. They offered snacks on the sub-1 hour flight, I thought that was nice but unnecessary.
 
trent772
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Re: Avianca's Chairman: The airline is broke

Tue Aug 27, 2019 11:08 pm

It appears that Mr. Efromovich has filed a lawsuit in NY to regain control and not lose the 51,5% of his shares to UA.

This battle will go on for some time, meanwhile the company is burning to the ground.

https://m.portafolio.co/internacional/e ... nda-532932

(Spanish only)
 
trent772
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Re: Avianca's CEO: The airline is broke

Wed Aug 28, 2019 12:10 am

A388 wrote:

I can see your point but that the same time Kriete's word were indeed taken out of context. Media outlets often exaggerate. They make the reader believe the airline is broke but they aren't. They are having problems with their payments but this doesn't mean they are broke. The media can also spin this the best way they can.

A388


Disagree, this time the media didn’t have to exaggerate, the media didn’t have to appeal to fake news to gain likes or clicks, what Mr. Kriete said was clear cut, I still fail to see how his words were indeed taken out of context.
 
AtomicGarden
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Re: Avianca's Chairman: The airline is broke

Wed Aug 28, 2019 12:47 am

I don't think he was taken out of context (the usual excuse for those who cannot explain something), but maybe he didn't say it literally. Otherwise they couldn't be flying at all, could they.
You killed a black astronaut, Cyril! That's like killing a unicorn!
 
RCS763AV
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Re: Avianca's Chairman: The airline is broke

Wed Aug 28, 2019 3:21 pm

It is clear that the words were taken out of context. One thing is to say "we're broke" colloquially during a meeting as in our financial situation is delicate, than to actually being legally and financially broke, forcing the company to go through a reorganization proceeding which may end up in liquidation.

Just look at the many exaggerated posts in the thread saying "the company is burning to the ground" and "I have flights with them booked in October what should I do". Not to talk about the sensationalist thread title. That is the awful effect those kinds of out-of -context interpretations have.

On another note, maybe Kriete leaked the video to get the share price down preparing for a hostile takeover attempt? I mean, Kriete is also shady AF.
 
dcajet
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Re: Avianca's Chairman: The airline is broke

Wed Aug 28, 2019 4:18 pm

RCS763AV wrote:
It is clear that the words were taken out of context. One thing is to say "we're broke" colloquially during a meeting as in our financial situation is delicate, than to actually being legally and financially broke, forcing the company to go through a reorganization proceeding which may end up in liquidation.

Just look at the many exaggerated posts in the thread saying "the company is burning to the ground" and "I have flights with them booked in October what should I do". Not to talk about the sensationalist thread title. That is the awful effect those kinds of out-of -context interpretations have.

On another note, maybe Kriete leaked the video to get the share price down preparing for a hostile takeover attempt? I mean, Kriete is also shady AF.


Let me see if I understood what you just wrote. So the company chairman says the airline is broke, but it is us who are to be blamed for taking the word broke out of context and being sensationalists, etc.? Mr Kriete is a seasoned businessman who has been around the block a few times; he clearly knows the effect his words have and must surely know that they'd go public the moment he said them.

But it's the interpretation of such words what it's wrong...

Oh, to be a fanboy...
Keep calm and wash your hands.
 
trent772
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Re: Avianca's Chairman: The airline is broke

Thu Aug 29, 2019 12:28 am

dcajet wrote:
RCS763AV wrote:
It is clear that the words were taken out of context. One thing is to say "we're broke" colloquially during a meeting as in our financial situation is delicate, than to actually being legally and financially broke, forcing the company to go through a reorganization proceeding which may end up in liquidation.

Just look at the many exaggerated posts in the thread saying "the company is burning to the ground" and "I have flights with them booked in October what should I do". Not to talk about the sensationalist thread title. That is the awful effect those kinds of out-of -context interpretations have.

On another note, maybe Kriete leaked the video to get the share price down preparing for a hostile takeover attempt? I mean, Kriete is also shady AF.


Let me see if I understood what you just wrote. So the company chairman says the airline is broke, but it is us who are to be blamed for taking the word broke out of context and being sensationalists, etc.? Mr Kriete is a seasoned businessman who has been around the block a few times; he clearly knows the effect his words have and must surely know that they'd go public the moment he said them.

But it's the interpretation of such words what it's wrong...

Oh, to be a fanboy...


So he not only said “Avianca is broke” colloquially but he also said “We are not paying the banks, we are not paying our creditors, we are not paying the aircraft lessors” in the same colloquial manner? Yeah right…

Fanboys will always be fanboys.

The fact that AV had to quickly come out and deny the statements of the chairman of the board is a little Trumpesque don’t you think?
 
dcajet
Topic Author
Posts: 4624
Joined: Sun Aug 01, 2004 9:31 am

Re: Avianca's Chairman: The airline is broke

Thu Aug 29, 2019 1:09 am

trent772 wrote:
dcajet wrote:
RCS763AV wrote:
It is clear that the words were taken out of context. One thing is to say "we're broke" colloquially during a meeting as in our financial situation is delicate, than to actually being legally and financially broke, forcing the company to go through a reorganization proceeding which may end up in liquidation.

Just look at the many exaggerated posts in the thread saying "the company is burning to the ground" and "I have flights with them booked in October what should I do". Not to talk about the sensationalist thread title. That is the awful effect those kinds of out-of -context interpretations have.

On another note, maybe Kriete leaked the video to get the share price down preparing for a hostile takeover attempt? I mean, Kriete is also shady AF.


Let me see if I understood what you just wrote. So the company chairman says the airline is broke, but it is us who are to be blamed for taking the word broke out of context and being sensationalists, etc.? Mr Kriete is a seasoned businessman who has been around the block a few times; he clearly knows the effect his words have and must surely know that they'd go public the moment he said them.

But it's the interpretation of such words what it's wrong...

Oh, to be a fanboy...


So he not only said “Avianca is broke” colloquially but he also said “We are not paying the banks, we are not paying our creditors, we are not paying the aircraft lessors” in the same colloquial manner? Yeah right…

Fanboys will always be fanboys.

The fact that AV had to quickly come out and deny the statements of the chairman of the board is a little Trumpesque don’t you think?


For sure it's a sign of the turmoil Avianca is going through. Who da thunk the airline was in a such a mess? Coming out and clarifying Mr Kriete's words only served to expose the internal strife further. I truly hope Avianca can put this crisis behind them as soon as possible.
Keep calm and wash your hands.
 
dcajet
Topic Author
Posts: 4624
Joined: Sun Aug 01, 2004 9:31 am

Re: Avianca's Chairman: The airline is broke

Thu Aug 29, 2019 3:36 pm

As part of the general PR effort surrounding the airline's transformation plan (Avianca 2021) Anko van der Werff, the new CEO, is hosting a press meeting this morning in Bogota.

https://twitter.com/n_larenas/status/11 ... 3074630656
Keep calm and wash your hands.

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