Avianca airlines posts 19.9% rise in stock value starting 2014

avianca

Colombia-based airline Avianca is enjoying success on Wall Street in 2014, posting a 19.9% increase so far this year, according to local media.

The Colombian airline is a fledgling on Wall Street, only entering the New York Stock Market in November.

According to Portfolio, pre-Christmas results were troubling as the company’s share price dropped 19.3% after the its initial week of trading.

Since then fortunes have significantly changed for Avianca.

Over the Christmas period they posted record figures: 11,791 flights between December 13th and January 12th, constituting over 1.4 million passengers.   Successful departures stood at 93.3% (later calculated at 79% after ‘uncontrolled’ delays were included).

Furthermore, at the end of yesterday’s trading, the company boasted a 29% increase in share price from its lowest point in December, now standing on the NYSE at $18.13.  This is figure is a 4% increase on its share value pre-Wall Street entry. As of today, it is currently heading for a 6th-consecutive day of increases.

These encouraging signs culminated in international investment firms such as JP Morgan, Deutsche Bank and Citi Group marking the company as “top performers” and recommending a “buy” status for its shares.

Sources:

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Written by Rico

Rico

"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!