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Why Did Avianca (AVHOQ) Stock Plummet In Last Trading?

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The stock price of Avianca Holdings S.A. (OTCPK: AVHOQ) fell by -16.24% to $0.6868 in the last session, reducing the firm’s market capitalization to $3.66M. AVHOQ stock traded at 826.36K shares, more than its average daily volume of 120.72K. Recently, AVHOQ stock experienced declines despite a lack of current news, so recent developments may prove helpful for investors.

What recent events occurred at AVHOQ?

Avianca trademark refers to the group of passenger airlines and cargo airlines owned by Avianca Holdings S.A. Within the United States, Central America, the Caribbean, Colombia, and South America, as well as internationally, Avianca and its subsidiaries ship passengers and cargo. Air Transportation and Loyalty are AVHOQ’s two segments. Aircraft maintenance, crew training, and other airport services are also available from AVHOQ. Since it was founded 100 years ago, AVHOQ has continuously flown.

Avianca Neuhauser was recently appointed as President and Chief Executive Officer of Avianca. Anko van der Werff has resigned from his role at AVHOQ and has been appointed CEO of a company in Europe. The AVHOQ Board of Directors will welcome Mr. Van der Werff as a new member and, for the sake of a seamless transition, he will continue to be an advisor until the middle of June.

A look at the new CEO of AVHOQ:

Mr. Neuhauser, formerly CFO, joined Avianca in 2018 and served as President most recently. He reports to the CFO, Vice President of Legal Affairs, General Counsel, and the Vice President of Purchasing. A corporate restructuring process was also overseen by Mr. Neuhauser during his tenure with AVHOQ.

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