September 25, 2023

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Gol and Avianca Announce Agreement to Create Grupo Abra Holding |  Economie

Gol and Avianca Announce Agreement to Create Grupo Abra Holding | Economie

Brazilian airline Goal And the Colombian Avianca The same group will take over, according to an agreement announced on Wednesday (11).

The agreement was signed between the major shareholders of Avianca The controlling shareholder Goal. The holding company will be called Grupo Abra. The companies said in a statement that the agreement aims to “create a leading group in the field of air transport in Latin America.”

The Goal And Avianca It will maintain independent operations, while “benefiting from increased efficiencies and investments made by the same controlling group,” according to a statement.

The Avianca The group has a fleet of more than 110 aircraft and is the leading airline in Colombia, Central America and Ecuador and operates 130 routes in Latin America.

The Goal It operates a fleet of 142 aircraft.

“The transaction is expected to close in the second half of 2022, subject to usual closing and regulatory conditions,” highlighting the fundamental truth revealed to the market.

“Abra will provide a platform to operate airlines to further reduce costs, achieve greater economies of scale, continue to operate a fleet of the latest aircraft, and expand their routes, services, product offerings and loyalty programmes,” the statement said.

Constantino de Oliveira Jr., founder of Goalwill be the CEO of the new group and Roberto Crete will chair the Board of Directors.

According to the statement, “some financial investors committed to investing up to $350 million in shares” of Grupo Abra after the deal was closed.

In 2020, . was released The court declared Avianca Brasil . bankrupt After accumulating billions of dollars in debt. to cThe company that stopped working in Brazil It was a trademark of Oceanair, but was not part of the Oceanair group of companies. Avianca Holdings SA is headquartered in Colombia.

The Avianca Holdings filed for US bankruptcy in 2020, but was able to avoid bankruptcy by agreeing to a recovery plan in late 2021.

*With information from Reuters