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    Sky Airline – Avianca Merger Seems to be Around the Corner

    13 de enero de 2022 - 22:51
    Sky Airline – Avianca Merger Seems to be Around the Corner
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    After speculating about a possible merger between Sky Airline and Avianca since January 2021, within the framework of the Bankruptcy process of Chapter 11 of the United States that Avianca has been going through, what was said at that time is now confirmed.

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    Elliot Management and Caoba, the main shareholders of Avianca Holding, announced that they are investing in the Chilean low-cost carrier Sky Airline with the aim of taking 40% of the company.

    Sky Airline opted for capital injection financing through a convertible bond in shares that will translate into a new partner in the airline. Sky Airline placed a bond in the market for $100 million, whose buyers were the investment funds Caoba Capital, Elliott Management, who in turn are also Avianca’s new owners.

    In the purchase agreement, it has been considered that the bond will become 40% of Sky Airline’s shares.

    As speculated at the time, and before the refusal to merge expressed by Avianca, everything would indicate on this occasion that a merger between Avianca and Sky Airline could take place, thus forming the largest low-cost airline in Latin America.

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    Although details about the future of both airlines are not officially known, everything would indicate that if the merger takes place, Holger Paulmann, Sky Airline’s CEO, would be the new airline’s CEO.

    Finally, and according to Diario Financiero, the Chilean low-cost airline expects that by 2022, it will be able to transport 35% more passengers compared to 2019, as well as the payment method for the purchase of 10 Airbus A320neo ordered last year will be defined.

    If this merger between Avianca and Sky Airline is confirmed, it will change the Latin American air market, since we would find a giant carrier that will mark tough competition for LATAM Airlines Group.

    Likewise, it is important to point out that, in recent years, low-cost airlines have been the fastest growing in the region, as the consumer prioritizes affordable prices, so if the merger of Avianca and Sky Airline takes place, we will be finding a carrier that could become the leading airline in Latin America soon.

    Temas
    • Airbus
    • Airbus A320
    • Airbus A320neo
    • Avianca
    • Avianca Holdings
    • Chile
    • Colombia
    • Featured
    • Merger
    • Sky Airline
    AUTOR
    Juan Pedro Sanchez Zamudio
    Juan Pedro Sanchez Zamudio
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