Avianca targets sub-2.5x debt ratio.

Avianca Holdings, a Colombia-based airline, focused on stabilizing its leverage ratio by making debt and lease liability repayments during the second quarter of 2024. The carrier had a cash balance of $928 million at the end of June, with a capital expenditure of $75 million for the quarter. Avianca's EBITDAR for the June quarter was $221 million, resulting in a net loss of just under $63 million. The company aims to achieve a low-twos leverage ratio to improve its financial performance. [Extracted from the article]