Avianca airlines posts 19.9% rise in stock value starting 2014

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 13^th and January 12^th, 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:

Avianca New York Stock Exchange