Avianca, Kingsland Holdings agree to withdraw lawsuits
Avianca Holdings S.A. and Kingsland Holdings Ltd. agreed to withdraw their respective lawsuits filed in New York State Supreme Court. The parties jointly filed a stipulation with the court dismissing the actions without prejudice. Avianca continues to negotiate a strategic alliance with United Airlines and hopes to finalize an agreement by the end of the year. "As we've said all along, Kingsland's lawsuit was meritless and filed prematurely, and we are pleased that the parties have reached an agreement to dismiss both actions," said Avianca CEO Hernan Rincon. "Avianca is now looking beyond the litigation, and we are pleased that negotiations with United are progressing. Moving forward, Avianca will continue to focus on serving our passengers, advancing our strategic goals, and developing our business across Latin America."