FILE PHOTO – Hernan Rincon, executive president and CEO of AVIANCA Holdings S.A., speaks during a new aircraft presentation ceremony at Monsignor Oscar Arnulfo Romero International Airport in San Luis Talpa, El Salvador May 7, 2018. REUTERS/Jose Cabezas

SAO PAULO (Reuters) – Colombian airline Avianca Holdings canceled an order of 17 Airbus A320 Neo aircraft and delayed deliveries on 35 others, according to a securities filing on Friday.

Avianca said this would reduce its financial commitments between 2020 and 2022 by $2.6 billion. The Colombian carrier has shifted its strategy to focus on profitability from growth.

The airline is following in the footstep of regional rival LATAM Airlines, which in recent months has said it was reducing future fleet commitments by $2.2 billion.

Avianca, United Continental

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