Through recent investments made by Avianca’s and Viva’s shareholders, the Group will also own a non-controlling 100% economic interest in Viva’s operations in Colombia and Peru as well as convertible debt representing a minority interest investment in Chile’s Sky Airline.
Together, Avianca and GOL will anchor a pan-Latin American network of airlines that will have the lowest unit cost in their respective markets, the leading loyalty programs across the region, and other synergistic businesses. Avianca and GOL will continue to maintain independent brands, talent, teams, and culture while benefiting from greater efficiencies and investments under common aligned ownership.
Abra will provide a platform for the operating airlines to further reduce costs, achieve greater economies of scale, continue to operate a state-of-the-art fleet of aircraft, and expand their routes, services, product offerings, and loyalty programs.
- Roberto Kriete, who will serve as the group’s Chairman, grew TACA in the 1980s into the leading Central American airline before merging it with Colombia’s Avianca Airlines in 2009. He also founded the leading Mexican carrier Volaris in 2006.
- Constantino de Oliveira Junior, who will serve as the group’s CEO, pioneered Latin America’s low-cost carrier revolution when he founded GOL Airlines in 2001. Together with the acquisition of VRG in 2007 and Webjet in 2011, he led the company’s growth to a market-leading position.
- Adrian Neuhauser, current President and CEO of Avianca, and Richard Lark, current CFO of GOL, will serve as the group’s Co-Presidents, in addition to maintaining their current roles at the airlines; further details on the Abra management team will be provided at closing.
Abra Group will also ensure that its operating airlines are ESG market leaders by providing enhanced governance as well as the financial strength to continue to invest in a lower carbon footprint fleet, which will significantly accelerate the airline industry’s path towards meeting carbon neutrality targets.
The closing of the transaction is expected to be completed in the second half of 2022, subject to customary closing and regulatory conditions.
