Avianca (Bogotá) parent Avianca Holdings raised USD409million on Tuesday by offering 27.2 million shares at USD15 in its Initial Public Offering on the New York Stock Exchange (NYSE). Speaking during the opening session, Fabio Villegas, CEO of Avianca, said funds raised would be put towards the airline's fleet modernization and expansion plan which encompasses Airbus neo jets, B787s and ATR72s. Avianca Colombia operates ten A318-100s, eleven A319-100s, thirty-five A320-200s, ten A330-200s, two ATR72-600s and ten Fokker 50s right now.