Avianca Holdings will further reduce its overall fleet through the end of this year following the decision to sell 14 aircraft.

In a stock market filing, the Panama-based holding firm said it had reached an agreement to sell ten A318-100s and four A320ceo to New York-based Fortress Transportation and Infrastructure Investors LLC (FTAI Aviation), for an estimated aggregate price of approximately USD160 million. The sale is expected to close by year-end.

“We are excited to execute a flexible phase-out plan that maximizes our fleet value. It has been terrific working with FTAI – we look forward to exploring new opportunities across our fleet with FTAI and continuing to build our relationship with them," Anko van der Werff, Avianca’s Chief Executive Officer, said.

According to ch-aviation fleets advanced, Avianca Holdings' ten A318s operate for its Avianca Airlines (AV, Bogotá) subsidiary alongside the four A320ceo.

As part of its Avianca 2021 turnaround strategy, Avianca Holdings, in March, succeeded in cutting seventeen A320neo from its 128-strong order with Airbus. In addition, it also deferred deliveries of another 35 aircraft of the type to between 2019-2022 thus saving the firm financial commitments of more than USD2.6 billion.

It also retired its fleet of ten E190s in late June.