8-Oct-2009 8:25 AM

Avianca and TACA to form Latin America's largest airline group

Synergy Group and Grupo Taca Holdings reached (07-Oct-2009) an agreement to contribute their respective controlling ownership in the operations of Avianca and TACA into a new holding company as the basis for a new Latin American airline group. The two airlines will continue to operate as separate companies, maintaining the same reporting lines within each organisation, while coordinating operations to provide seamless services to their passengers throughout a combined network. The transaction is subject to regulatory and other antitrust approvals. The merger is expected to lead to the creation of Latin America's leading airline group, with hubs in Bogota, Lima, San Salvador and San Jose offering services to more destinations than any other carrier in the region. Details of the new group include:

  • Annual revenue: USD3 billion;
  • Fleet: 129 aircraft;
  • Employees: Approximately 12,000
  • Destinations: More than 100, including 75 in Latin America;
  • Executive structure:
    • CEO: Fabio Villegas, currently CEO of Avianca
    • Chairman: Roberto Kriete, currently Chairman and CEO of TACA;
    • COO: Estuardo Ortiz, currently TACA COO;
    • CFO: Gerardo Grajales, currently Avianca CFO. [more] [more - Perspective]

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