Ecuador authorized economic concentration of Avianca and GOL

Ecuador authoritativeó the concentrationón económica with which the aerosolídenies Avianca and GOAL to formán part of the same economic groupómonkey. image airgways.

the now called Open Group advances in its integration processón, where important part of this is to have the authorizations of the different control entities of the PAsíses of the regionón.

Against this background, An important step has been taken in Ecuador what couldíto be taken as a reference andñto support for this unión to createá One of the groups Aéaccused máimportant of the continent.

Ecuador authorizes Avianca and GOL

A través of the Superintendence of Market Power with Resolutionón 022, The authorization entityó the operationón of concentrationón ea that mobi investment fund in aÇÕIt is non -exterior investigation (majority shareholder of Linhas AéReas Intelligentes S.A.), KINGSLAND INTERNATIONAL GROUP S.A. y KHLI S.A. (main investors of Avianca S.A.) transferán your actions to a new holding company to be jointly controlled.

You transact itón implies a change of control to grantá Mobi Investment Fund in AÇÕIt is non -exterior investigation, KINGSLAND INTERNATIONAL GROUP S.A. y KHLI S.A. joint control over the new Holding Company, So it is configured in an operationón of concentrationón econóMica when complying with the provisions of the Artíass 14 from LORCPM.

East Holding, called Abra Group, checká to the airídenies Avianca Ecuador S.A. Y GOL LINES AéReas Intelligentes S.A.

• GOL Lines AéReas Intelligentes S.A. it's an aerosolíin Brazilña, whose activity EconóMica is transport toépassenger prisoner. For the pretación of its services uses the airports of Sao Paulo in Brazil. From 2019, the airíNEA does not maintain operations in Ecuador.
• Avianca Ecuador S.A.. is a friendñítransport toépassenger prisoner, that provides its services on both local flights in Ecuador and international.

The 11 July 2022, at Commissionsón resolzióN of the first instance of the SCPM Resolvió Authorizar La Operationón of concentrationón econóMica notified, considering that it does not generate risks to the competitive scheme of the following geog marketsápassenger transport ficos on destination origin routes:

• Quito – São Paulo.
• Quito – RíJanuary's.
• Guayaquil – São Paulo.
• Guayaquil – RíJanuary's.

La authorizationón is consideredó when verifying that the transacción does not generate a change in the competitive market structure, So it is unlikely that it affects the free concurrence of operators or ActúE to the detriment of competition.