Taca and Avianca to Merge Operations

©image: Alex Steffler

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.

Source: laprensagrafica.com

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Taca and Colombia's Avianca Discussing Alliance

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.

Taca-Avianca Holding Registered in Bahamas

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%.

$10 Million for 10% of TACA's Shares

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.

Colombia Approves Taca - Avianca Merger

December 2009

Colombia's aviation authority authorized the operation of a new holding conformed by airlines Avianca and Taca.

The authorization was granted by "Aeronáutica Civil", the aviation authority, which belongs to Colombia's Transportation Ministry.

"Colombian airline Avianca reported the information on Thursday, adding that the authority granted them authorization 'without reserves'", reported Elsalvador.com.