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Avianca, Gol merger to create mega South American airline group
Avianca and Brazil airline Gol are joining forces to form a ‘pan-Latin American airline network.’
A new holding company Abra Group will manage Gol Linhas Aereas Inteligentes and Colombia based Avianca, while the airlines will continue operating independently.
Investors will invest up to $350 million in Abra Group once the merger is finalized in the second half of 2022.
Abra Group will be chaired by Roberto Kriete, while the CEO will be Constantino de Oliveira Jr.
Co-presidents will be Avianca CEO Adrian Neuhauser and Gol CFO Richard Lark.
“This deal positions Abra’s airlines to lead air travel within the region, reaching a population of over one billion people,” Oliveira said.
“Our unique enterprise structure will allow each airline to drive results by maintaining their independent brands.”
The deal is subject to regulatory approvals.
Avianca will remain a member of Star Alliance.
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