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Old 13th Nov 2017, 19:42   #21 (permalink)
 
Join Date: Feb 2008
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Did Avianca finally get to bring in foreign pilots to fill in for striking pilots?
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Old 14th Nov 2017, 13:44   #22 (permalink)
 
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The pilots were meant to have returned to work yesterday, Monday, a Colombian holiday. On the disciplinary action the press here was no more detailed about it although it did state that they would have their ‘rights’ protected.
The pilots probably folded as by local law after 60 days of striking they would have been forced into compulsory arbitration. I do not know what timeline has to pass before the pilots could strike again but one wonders if management might be trying to head that off at the pass by issuing some sort of warning to the returning pilots about striking again? Speculation I know but managements problem is that the pilots have returned, but there’s been no agreement.

Wamos flew the outsourced Cali-Madrid flight last night (despite crews in theory now being available) so how long that agreement continues will be interesting.

I haven’t heard anything recently about Avianca’s plans to link up with United or Avianca’s various investors/owners being in conflict over that proposed arrangement. Another strike could be embarrassing...
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Old 15th Nov 2017, 14:07   #23 (permalink)
 
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Avianca reported Q3 results today which included the first 11 days of the strike. The numbers were pretty healthy (source Valores/Bancolombia)


3Q17: Operating margin reached 9.2%, 60bp above our expectations. Yields present their second consecutive year-on-year increase reaching USD8.9. Leverage ratio net debt / EBITDAR closed at 5.6x.

Avianca Holdings reported results that we classified as extraordinary where the company, thanks to the good results in July, August and the first 20 days of September, managed to compensate for the effect of the 11-day strike in Q3. Thanks to a slight increase in year-on-year yields, along with an increase in passengers transported and high occupancy factors, Avianca reported a 158bp revenue growth higher than that of operating expenses leading operating income to reach the best margin for the year. 3T since 2013.

This week it was also known that during October the company transported 1.9mn passengers, decreasing 25%. The above is due to the pilots' strike that took place during the whole month, which affected the domestic market to a greater extent, which reduced the available seats by 37%. On the other hand, the international market decreased the available seats by 10.5%. The aforementioned was slightly offset by an overall increase in the load factor by 40 bps, however they also account for the difficult situation the company went through with the pilot strike, which we expect to have material repercussions on the results of the 4T.
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