Adrian Neuhauser has left Credit Suisse to take over the head financial role at Avianca as the airline moves through a period of leadership turmoil.

Neuhauser, who is a managing director at the Swiss investment bank, will assume the role in July, FlightGlobal understands.

The appointment follows the announcement that former Aeromexico executive Anko van der Werff will take over as the airline's new chief executive, effective 15 July, after Hernan Rincon left the company in April. Additionally, Roberto Kriete was appointed chairman on 24 May, formally ousting majority shareholder German Efromovich from the airline's board.

Avianca was recently downgraded by S&P Global Ratings and Fitch Ratings due to its deteriorating liquidity position and refinancing risks.

On 10 April Avianca's majority shareholder Synergy informed Avianca that it had breached covenants of a 2018 loan from United Airlines that was secured by its shares in the Colombian carrier.

In recent months, the airline trimmed its Airbus orderbook, eliminated less profitable flying and began divesting non-core businesses.

Avianca was not immediately available for comment.

Source: Cirium Dashboard