UBS Downgrades Avianca Holdings SA (ADR) to Sell

Brokerage firm UBS Downgrades its rating on Avianca Holdings SA (ADR)(NYSE:AVH). The shares have been rated Sell. The rating by UBS was issued on Jul 5, 2016.

Avianca Holdings SA (ADR) (AVH) made into the market gainers list on Fridays trading session with the shares advancing 2.56% or 0.15 points. Due to strong positive momentum, the stock ended at $6, which is also near the day’s high of $6.05. The stock began the session at $5.84 and the volume stood at 1,01,203 shares. The 52-week high of the shares is $10.91 and the 52 week low is $3.4. The company has a current market capitalization of $748 M and it has 12,46,23,411 shares in outstanding.

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.

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