Exhibit 4.10.5

SUPPLEMENTAL AGREEMENT NO. 5

to

Purchase Agreement
No. 3075

between

THE BOEING COMPANY

and

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA

Relating to Boeing Model 787-859 Aircraft

THIS SUPPLEMENTAL AGREEMENT, is entered into as of the 15th day of April
2014, by and between THE BOEING COMPANY, a Delaware corporation with its principal offices in the City of Seattle, State of Washington, USA (Boeing), and Aerovias del Continente Americano S.A. AVIANCA, a company organized under the laws of the
country of Colombia (Buyer);

Recitals

1)        Boeing and Buyer entered into Purchase Agreement No. 3075, dated 03 October 2006,
as amended and supplemented (the Agreement) relating to the purchase and sale of Boeing Model 787-859 aircraft (Aircraft).

2)        Pursuant to paragraph 2 of Letter Agreement 3075-01 to the Agreement entitled Model
787 Open Configuration Matters, Boeing is incorporating the Customer Configuration into the Agreement.

Agreement

The parties agree to amend the Agreement as follows:



| | 1. | Table of Contents.
| | -- | ------------------

Remove and replace the Table of Contents with a new
Table of Contents (attached) to reflect the incorporation of this Supplemental Agreement No. 5 (SA-5) into the Purchase Agreement.



|             |  |    
|------------ |  | ---
|PA3075 
SA-5 |  | AVI



---

| | 2. | Exhibit A
| | -- | ---------

Add Exhibit A to reflect the incorporation of Customer
Changes to the Agreement.



| | 3. | Pricing Tables
| | -- | --------------

Remove and replace Appendices B, C and D with new
Appendices B, C and D (respectively Table 1-1, Table 1-2 and Table 1-3) that include revised escalation forecasts to reflect the incorporation of the Customer Configuration Changes to the Aircraft Basic Price. For the purposes of this SA-05,
Pre-Delivery Payments (PDP) will remain in accordance with the Advanced Payment Base Price (APBP) found of Tables in 1-1, 1-2 and 1-3 of Supplemental Agreement 04 (SA-04).

The Purchase Agreement, Exhibits and Letter Agreements shall be deemed amended to the extent herein provided and as so amended
shall continue in full force and effect. In the event of any inconsistency between the above provisions and those provisions contained in the Purchase Agreement, the terms of this Supplemental Agreement will govern and control.



| |  |  |  | 
| |  |  |  | 
| |  |  |  | 



|                                                    |  |                           |  |  |  | 
|--------------------------------------------------- |  | ------------------------- |  |  |  | 
|EXECUTED IN DUPLICATE as of the date written above, |  |                          
|                                                    | 
|THE BOEING COMPANY                                  |  |                          
|                                                    |  |                          
|By:                                                 |  | /s/ Kelli Bartlett        |  | 
|                                                    |  |                          
|Its                                                 |  | Attorney-In-Fact          |  | 
|                                                    | 
|AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA      |  |                          
|                                                    |  |                          
|By:                                                 |  | /s/ Elisa Murgas          |  | 
|                                                    |  |                          
|Its                                                 |  | Secretary General Officer |  | 



|             |  |    
|------------ |  | ---
|PA3075 
SA-5 |  | AVI



---

TABLE OF CONTENTS



|                      |  |                                                        |  |       
|--------------------- |  | ------------------------------------------------------ |  | ------
|                      |  |                                                        |  | SA    
|ARTICLES              |  |                                                        |  | NUMBER
|                      |  |                                                       
|1.                    |  | Quantity, Model and Description                        |  |       
|2.                    |  | Delivery Schedule                                      |  |       
|3.                    |  | Price                                                  |  |       
|4.                    |  | Payment                                                |  |       
|5.                    |  | Miscellaneous                                          |  |       
|                      |  |                                                       
|TABLE                 |  |                                                        |  |       
|                      |  |                                                       
|1-1                   |  | Aircraft Information Table                             |  | SA-5  
|1-2                   |  | Aircraft Information Table                             |  | SA-5  
|1-3                   |  | Aircraft Information Table                             |  | SA-5  
|                      |  |                                                       
|EXHIBIT               |  |                                                        |  |       
|                      |  |                                                       
|A.                    |  | Aircraft Configuration                                 |  | SA-5  
|                      |  |                                                       
|B.                    |  | Aircraft Delivery Requirements and Responsibilities    |  |       
|                      | 
|SUPPLEMENTAL EXHIBITS |  |                                                       
|                      |  |                                                       
|AE1.                  |  | Escalation Adjustment/Airframe and Optional Features   |  |       
|                      |  |                                                       
|BFE1                  |  | Buyer Furnished Equipment Variables                    |  | SA-3  
|                      |  |                                                       
|CS1.                  |  | Buyer Support Document                                 |  |       
|                      |  |                                                       
|EE1.                  |  | Engine Escalation/Engine Warranty and Patent Indemnity |  | SA-2  
|                      |  |                                                       
|SLP1.                 |  | Service Life Policy Components                         |  |       



|             |  |    
|------------ |  | ---
|PA3075 
SA-5 |  | AVI



---

|                   |  |                                                       |  |       
|------------------ |  | ----------------------------------------------------- |  | ------
|LETTER AGREEMENTS  |  |                                                       |  | SA    
|                   |  |                                                       |  | NUMBER
|                   |  |                                                      
|3075-01            |  | 787 Open Configuration Matters                        |  |       
|3075-02            |  | 787 Spare Parts Commitment                            |  |       
|3075-03            |  | 787 Spare Parts Initial Provisioning                  |  |       
|3075-04            |  | Aircraft Model Substitution                           |  |       
|3075-05            |  | Demonstration Flight Waiver                           |  |       
|3075-06            |  | Schedule Reliability                                  |  |       
|3075-07            |  | Spare Parts  Flight Crew Training                    |  |       
|                   |  |                                                      
|6-1162-DME-0895    |  | AD Cost Materials                                     |  |       
|6-1162-DME-0896    |  | Performance Guarantees and Attachments                |  |       
|                   |  |                                                      
|6-1162-DME-0897    |  | Alternate Engine Selection                            |  | SA-2  
|6-1162-DME-0898    |  | GEnx Performance Retention and Attachment             |  | SA-2  
|6-1162-DME-0899    |  | Trent Performance Retention and Attachment            |  |       
|6-1162-DME-0900    |  | Maintenance Cost Guarantees and Attachment            |  |       
|6-1162-DME-0901R2  |  | Advance Payment Matters and Attachments A & B         |  | SA-3  
|6-1162-DME-0902    |  | Promotional Support                                   |  | SA-1  
|6-1162-DME-0903R2  |  | Purchase Rights                                       |  | SA-3  
|6-1162-DME-0904    |  | Special Matters                                       |  |       
|6-1162-DME-0905R1  |  | Escalation Risk Control Facility and AttachmentsA & B |  | SA-3  
|6-1162-DME-0905-01 |  | Fixed Escalation factors                              |  | SA-3  
|6-1162-DME-0905-02 |  | Process for Fixing Escalation Factors                 |  | SA-3  
|6-1162-DME-0906R1  |  | Customer Services Matters and Attachment              |  | SA-2  
|6-1162-DME-0907    |  | AGTA Matters                                          |  |       
|6-1162-DME-1089-R1 |  | Banded Fixed Escalation Program                       |  | SA-3  
|6-1167-DME-1347    |  | Additional Special Matters  Scheduled Month Aircraft |  | SA-3  

RECORD OF SUPPLEMENTAL AGREEMENTS



|     |  |              |  |     
|---- |  | ------------ |  | ----
|SA-1 |  | 28 March     |  | 2007
|SA-2 |  | 21 November  |  | 2007
|SA-3 |  | 26 September |  | 2012
|SA-4 |  | 11 January   |  | 2013
|SA-5 |  |              |  | 2014



|             |  |    
|------------ |  | ---
|PA3075 
SA-5 |  | AVI



---

Appendix B

Supplemental Agreement SA-5

Table 1-1 to Purchase Agreement No. 3075

Aircraft Delivery, Description, Price and Advance Payments



|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|------------------------------------------------- |  | --------- |  |  |  | --- |  |  |  | ---------------------------------------------- |  | --- |  | ---
|Airframe Model/MTOW:                              |  | 787-8     |  |  |  | *** |  |  |  | Detail Specification:
787B1-4102-J (5/17/2013)
|                                                  |  |           |  |  |  |     | 
|Engine Model/Thrust:                              |  | TRENT *** |  |  |  | *** |  |  |  | Airframe Price Base Year/Escalation Formula:   |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Airframe Price:                                   |  |           |  |  |  | *** |  |  |  | Engine Price Base Year/Escalation Formula:     |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Optional Features:                                |  |           |  |  |  | *** |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Sub-Total of Airframe and Features:               |  |           |  |  |  | *** |  |  |  | Airframe Escalation Data:                      |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Engine Price (Per Aircraft):                      |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|Aircraft Basic Price (excluding estimates below): |  |           |  |  |  | *** |  |  |  | Base Year Index (CPI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Buyer Furnished Equipment (BFE) Estimate:         |  |           |  |  |  | *** |  |  |  | Engine Escalation Data:                        |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|In-Flight Entertainment (IFE) Estimate:           |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|                                                  |  |           |  |  |  |     |  |  |  | Base Year Index (CPI):                         |  | *** |  |    



|         |  |           |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    
|-------- |  | --------- |  | ---------- |  | ---------- |  |  |  | ------------------- |  | ----------------------------------------------------------------- |  | --- |  | --- |  | ---
|         |  |           |  | Escalation |  | Escalation |  |  |  | Escalation Estimate |  | Advance Payment Per Aircraft (Amts. Due/Mos. 
Prior to Delivery):
|Delivery |  | Number of |  | Factor     |  | Factor     |  |  |  | Adv Payment Base    |  | ***                                                               |  | *** |  | *** |  | ***
|Date     |  | Aircraft  |  | (Airframe) |  | (Engine)   |  |  |  | Price Per A/P       |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|Total:   |  | 10        |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    

Boeing Proprietary



---

Appendix C

Supplemental Agreement No. SA-5

Table 1-2 to Purchase Agreement 3075

Aircraft Delivery, Description, Price and Advance Payments



|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|------------------------------------------------- |  | --------- |  |  |  | --- |  |  |  | ---------------------------------------------- |  | --- |  | ---
|Airframe Model/MTOW:                              |  | 787-8     |  |  |  | *** |  |  |  | Detail Specification:
787B1-4102-J (5/17/2013)
|                                                  |  |           |  |  |  |     | 
|Engine Model/Thrust:                              |  | TRENT *** |  |  |  | *** |  |  |  | Airframe Price Base Year/Escalation Formula:   |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Airframe Price:                                   |  |           |  |  |  | *** |  |  |  | Engine Price Base Year/Escalation Formula:     |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Optional Features:                                |  |           |  |  |  | *** |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Sub-Total of Airframe and Features:               |  |           |  |  |  | *** |  |  |  | Airframe Escalation Data:                      |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Engine Price (Per Aircraft):                      |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|Aircraft Basic Price (Excluding estimates below): |  |           |  |  |  | *** |  |  |  | Base Year Index (CPI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Buyer Furnished Equipment (BFE) Estimate:         |  |           |  |  |  | *** |  |  |  | Engine Escalation Data:                        |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|In-Flight Entertainment (IFE) Estimate:           |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|                                                  |  |           |  |  |  |     |  |  |  | Base Year Index (CPI):                         |  | *** |  |    



|         |  |           |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    
|-------- |  | --------- |  | ---------- |  | ---------- |  |  |  | ------------------- |  | ----------------------------------------------------------------- |  | --- |  | --- |  | ---
|         |  |           |  | Escalation |  | Escalation |  |  |  | Escalation Estimate |  | Advance Payment Per Aircraft (Amts. Due/Mos. 
Prior to Delivery):
|Delivery |  | Number of |  | Factor     |  | Factor     |  |  |  | Adv Payment Base    |  | ***                                                               |  | *** |  | *** |  | ***
|Date     |  | Aircraft  |  | (Airframe) |  | (Engine)   |  |  |  | Price Per A/P       |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|Total:   |  | 2         |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    

Boeing Proprietary



---

Appendix D

Supplemental Agreement SA-5

Table 1-3 to Purchase Agreement 3075

Aircraft Delivery, Description, Price and Advance Payments



|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|------------------------------------------------- |  | --------- |  |  |  | --- |  |  |  | ---------------------------------------------- |  | --- |  | ---
|Airframe Model/MTOW:                              |  | 787-8     |  |  |  | *** |  |  |  | Detail Specification:
787B1-4102-J (5/17/2013)
|                                                  |  |           |  |  |  |     | 
|Engine Model/Thrust:                              |  | TRENT *** |  |  |  | *** |  |  |  | Airframe Price Base Year/Escalation Formula:   |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Airframe Price:                                   |  |           |  |  |  | *** |  |  |  | Engine Price Base Year/Escalation Formula:     |  | *** |  | ***
|                                                  |  |           |  |  |  |     | 
|Optional Features:                                |  |           |  |  |  | *** |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Sub-Total of Airframe and Features:               |  |           |  |  |  | *** |  |  |  | Airframe Escalation Data:                      |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Engine Price (Per Aircraft):                      |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|Aircraft Basic Price (Excluding estimates below): |  |           |  |  |  | *** |  |  |  | Base Year Index (CPI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     |  |  |  |                                                |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|Buyer Furnished Equipment (BFE) Estimate:         |  |           |  |  |  | *** |  |  |  | Engine Escalation Data:                        |  |     |  |    
|                                                  |  |           |  |  |  |     | 
|In-Flight Entertainment (IFE) Estimate:           |  |           |  |  |  | *** |  |  |  | Base Year Index (ECI):                         |  | *** |  |    
|                                                  |  |           |  |  |  |     | 
|                                                  |  |           |  |  |  |     |  |  |  | Base Year Index (CPI):                         |  | *** |  |    



|         |  |           |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    
|-------- |  | --------- |  | ---------- |  | ---------- |  |  |  | ------------------- |  | ----------------------------------------------------------------- |  | --- |  | --- |  | ---
|         |  |           |  | Escalation |  | Escalation |  |  |  | Escalation Estimate |  | Advance Payment Per Aircraft (Amts. Due/Mos. 
Prior to Delivery):
|Delivery |  | Number of |  | Factor     |  | Factor     |  |  |  | Adv Payment Base    |  | ***                                                               |  | *** |  | *** |  | ***
|Date     |  | Aircraft  |  | (Airframe) |  | (Engine)   |  |  |  | Price Per A/P       |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|***      |  | 1         |  | ***        |  | ***        |  |  |  | ***                 |  | ***                                                               |  | *** |  | *** |  | ***
|Total:   |  | 3         |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    
|***      |  |           |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    
|***      |  |           |  |            |  |            |  |  |  |                     |  |                                                                   |  |     |  |     |  |    

Boeing Proprietary