Avianca will stop serving Havana as a result of US sanctions against Cuba.
Chief financial officer Adrian Neuhauser confirmed that the carrier would cease operations between Bogota and Havana “shortly”.
“You will see us shut down our flying into Cuba, unfortunately,” he said during a third-quarter earnings call today.
In May, Avianca’s majority shareholder Synergy defaulted on a loan extended by United Airlines. In order to reinforce the collateral, a structure was put in place in which the United loan was secured by Synergy’s stake in Avianca. The entity that now holds the shares is incorporated in Delaware, and therefore falls under the USA’s jurisdiction.
“Depending on how the ownership structure plays out…and if that holding structure disappears from our ownership, then we believe we would have the right to restart those operations,” adds Neuhauser.
On the other hand, Neuhauser confirmed that Lima-Havana, which was served by Avianca Peru, was canceled due to poor performance.
In September, Avianca Holdings disclosed that Avianca Peru would no longer operate flights between the two cities.