Avianca Holdings disclosed in a regulatory filing Wednesday that the Securities and Exchange Commission (SEC) has dropped its investigation into the Latin American airline holding company and will not recommend an enforcement action.
Avianca first disclosed in August 2019 that it was investigating possible violations of the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws concerning free and discounted airline tickets and upgrades given to government officials in certain countries. Through its internal processes, the company said it discovered employees, possibly including members of senior management and members of the board, “provided things of value.”
