Avianca announces $473M investment to expand fleet and routes

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Colombia's flagship airline, Avianca, announced an investment of $473M to expand its aircraft fleet by 16 planes. The move is part of the its strategy to increase its route offerings.

The exterior of the Avianca administrative office is pictured, as officers from Colombia's attorney general's office conduct a raid inside, in Bogota, Colombia, on Feb. 12, 2020.

"The resources to finance the incorporation of these planes come from our available cash and additional debt that we take on leases," Neuhaser said.Avianca's employee head count will grow by some 1,200, Neuhaser added. Some of the new hires will come from Viva Air, a now-defunct Colombian budget carrier Avianca had sought to buy before it backed out of the deal, citing conditions imposed by Colombia's civil aviation regulator

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