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The main shareholders of Avianca and the controlling shareholder of GOAL will create the Abra Group, a leading air transport group in Latin America. image airgways.
The main shareholders of the Colombian airline Avianca and the controlling shareholder of the Brazilian airline GOL signed a historic agreement to create a leading air transport group in Latin America under a structure of holding company called Abra Group Limited ("Abra Group"). Subject to customary regulatory approvals and closing conditions, the Abra Group would control Avianca and GOL, bringing these iconic brands closer together holding.
Avianca and GOL, boards
Through the recent investments made by the shareholders of Avianca and Viva, the Group would also have the 100% of the economic rights of Viva's operations in Colombia and Peru, but i wouldn't control her, and would have a convertible credit in an investment representing a minority interest in the airline Sky Airline de Chile.
boards, Avianca and GOL will be the anchor of a network of Latin American airlines that will have the lowest unit costs in their respective markets, the leading loyalty programs throughout the region, and other complementary businesses. Avianca and GOL will maintain their brands, talent, teams and culture independently, while benefiting from greater efficiencies and investments within common ownership.
Abra will provide a platform that will allow operating airlines to further reduce their costs, achieve greater economies of scale, continue to operate a fleet of state-of-the-art aircraft and expand its routes, services, product offerings and loyalty programs.
On the whole, the airlines that will be part of the Abra Group could offer their customers the widest and most complementary network of routes with minimal overlap between markets.
Abra's financial strength will provide participating airlines with long-term stability and agility, thus promoting constant and sustained investment in innovation and synergies.
The Abra Group will be co-controlled by the main shareholders of Avianca and the majority shareholder of GOL, and will be led by a management team with extensive aviation experience in the region, a long history of entrepreneurship and a proven record of success in airline growth and transformation.
- Roberto Kriete, who will serve as Chairman of the Board of Directors (Chairman) of the group, He was the one who made TACA the leading airline in Central America in the 1990s. 80, before merging with Avianca in 2009. also founded, on 2006, Volaris, the leading airline in the Mexican market.
- Constantino de Oliveira Junior, who will serve as the CEO of the Group, pioneered the low-cost airline revolution in Latin America when he founded GOL Airlines in 2001. Along with the acquisition of VRG in 2007 and from Webjet in 2011, Led the growth of the company to a leadership position in the market.
- Adrian Neuhauser, current President and CEO of Avianca, y Richard Lark, current CFO of GOL, will serve as co-chairmen of the Group and will retain their current roles at the airlines. At the closing of the agreement, More details on Abra's management team will be released.
Grupo Abra's management team will focus on generating synergies that ensure the lowest cost structures for each airline in their corresponding markets; to expand its route network, services, product offerings and loyalty programs; and in developing new and innovative products and services that respond to the current needs of passengers and cargo customers in the highly competitive Latin American air transport market..
in addition, Abra will strive to ensure that airlines are leaders in the implementation of environmental criteria, social and corporate governance (ESG for its acronym in English), having strong governance and financial strength to continue investing in an aircraft fleet that generates a lower carbon footprint, which would accelerate the airline industry's progress towards its carbon neutral goals.
Transaction Terms
The Abra Group is a closed capital company incorporated in the United Kingdom. Once the transaction is closed, the Abra Group will control Avianca and GOL and, due, will also have non-controlling economic rights in Viva's operations in Colombia and Peru, and would have a convertible credit in an investment representing a minority interest in the airline Sky Airline de Chile.
Certain financial investors have committed to invest more than US$350 million in Abra shares upon closing of the transaction, further strengthening Abra's balance sheet and liquidity position.
Closing of the transaction is expected to be completed in the second half of 2022, subject to satisfaction of customary closing conditions and regulatory conditions.
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