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Avianca Brasil opened for sale to interested airlines

Avianca Brasil
Airline   HNA, Delta Air Lines and United may buy Avianca

South American airlines group Avianca's doors are open to any opportunities presented by interested partners to help it grow when economic conditions in its region improve.


Avianca said in a filing on Friday it was taking advice from investment banks after Reuters reported HNA, Delta Air Lines and United Continental Holdings were among parties interested in making an acquisition.

"This is a very capital-intensive business. We are going to be open for opportunities," said Jose Efromovich, chief executive officer of Avianca Brasil, at an event in Zurich hosted by the Star Alliance grouping of international airlines.

Avianca Holdings SA and Avianca Brasil are controlled by his brother German Efromovich's Synergy Group.

Jose Efromovich said Avianca Colombia was not necessarily for sale but that the door was open to everyone for the two airlines, whether airline partners or others.

"It's not like somebody knocked on the door, it is the opposite. We opened up the door, we are waiting, there is no hurry," he told reporters.

"We always want to see which are the alternatives when we decide to go back and grow, when the region will allow us to go back into growing mode," he said.

 

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