Avianca Holdings has announced it has reached an agreement with Airbus over the revision of its outstanding A320 Family order book.
The South American carrier holding said in a stock market filing that it has cancelled seventeen outstanding A320neo and has rescheduled the delivery of thirty-five more currently due to be delivered between 2020 and 2022.
"This agreement will reduce Avianca’s fleet CapEx needs by more than USD350 million over the next three years and reduces financial commitments for the 2020-2022 period by more than USD2.6 billion," it said.
Under the revised plan, only three out of the original six A320 Family jets due to have been delivered this year will arrive while just six out of 20 are due in 2020. Thereafter, for 2023, four out of 23 jets will deliver. However, deliveries for each of 2023, 2024, and 2025 will remain unchanged with 20, 20, and 19 aircraft due to deliver in each respective year. Thereafter, Avianca will accept 15 aircraft in 2026, 14 in 2027, and six in 2028.
Avianca Holdings chief executive Hernán Rincón said last month that the firm would reduce its overall fleet from the current 190 aircraft to "between 160 and 165" later this year. Among the types to be retired outright are its fleet of ten E190s.
