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Avianca Taca
The merger of both companies is likely to trigger a process of airline concentration in Latin America. AeroMéxico has already announced it will seek alliances beyond commercial agreements.
An article in website "En Vivo desde SCL" analyzes the situation: "By purchasing TACA, Avianca positions itself as an aeronautical giant, significantly improving its position to compete with other airlines in the region, specially LAN, who is strongly interested in the Colombian market. The Chilean airline entered this market with the creation of LANCO, considered a possible alternative for creating LAN Brasil. Avianca growth will force a reorganization of the airline situation in Latina America, due to the strong bonds both Avianca and Taca have with different companies in the Region".
Source: En vivo desde SCL
More on this topic
October 2009
The holding company comprising Avianca and Taca was fiscally registered in Bahamas.
Germán Efromovich, president of Grupo Sinergy, remarked that "Bahamas is the accounting registration of the holding, because it is favorable from a tax point of view".
"Both airlines are part of a holding of which Taca has a 33% share and Avianca 67%.
October 2009
The airlines will merge their operations, becoming one of the largest in Latin America.
They announced the agreement must still be approved by Colombian and Salvadoran regulations, in order to make the union a reality.
Roberto Kriete, President of Taca, said that "airlines merging is a mainstream trend in the industry", reported Laprensagrafica.com.
October 2009
As part of the negotiation process, Avianca acquired 10% of Taca Holdings Group.
The stock purchase is due to accounting and fiscal issues, reported TACA's President Roberto Kriete and Avianca's CEO Fabio Villegas.
"The alliance will require various steps. The first one is the regulatory process, which needs to be approved in El Salvador, United States, Colombia and other countries.
October 2009
Avianca CEO Fabio Villegas announced they are negotiating a strategic alliance between both airlines.
No further detail was known about this potential alliance between Colombia's largest air company and Central America's largest air transportation group, nor if the negotiation includes acquisitions or mergers.
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