Avianca Holdings posted a full-year net profit of $120.5 million in 2014, down 51.6% from a net profit of $248.8 million in 2013. The Panama City-registered carrier reported full-year operating revenues of $4.7 billion, up 2% year-over-year (YOY), as expenses came to $4.42 billion, up 4.6% YOY. The company’s full-year operating profit was $284.6 million, down 26.1% YOY from 2013’s $384.9 million operating income. Avianca’s cargo revenue performance was strong in 2014, ...

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