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.
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