Colombian Carrier Acquires Sky Airline

4th Jan 2015

Avianca Holdings has finally made official its acquisition of Sky Airline through the signing of MOU with the Chilean carrier.

Avianca Holdings is currently Latin America's second largest airline holding company with 10 airline subsidiaries in as many countries in the continent. These include Avianca Brazil, Avianca Cargo, Avianca Costa Rica, Avianca Ecuador, Avianca El Salvador, Avianca Honduras, Avianca Nicaragua, Avianca Peru, Aviateca, Helicol, and Sansa Airlines.

Avianca Holdings and Sky Airlines started their partnership in 2012 through a codeshare agreement for operations in their respective home countries.

The recent signing of the MOU is a culmination of the two airlines' fervent negotiations that stretched to 15 months. The agreement was inked by Avianca Holdings' majority stakeholder, German Efromovich, and Sky Airline CEO, Holger Paulmann.

The Avianca group operates a total fleet of 143 aircraft with a combined route network of over 100 destinations across the continent, as well as North America and Europe.

The latest acquisition is part of the group's strategy to grow its business and strengthen its foothold in Latin America to become the biggest airline holding company. Avianca's CEO, Fabio Villegas, was very optimistic on the company's future, saying that Sky Airline is a great addition to the group with its good reputation and business strength in the domestic market.

While existing operations of Sky Airline remain unchanged after the acquisition, it will also begin serving feeder traffic to Avianca's main hub in Bogota. Currently, Sky Airline doesn't operate flights to any Colombian destination.

The purchase, however, might not get a red carpet welcome in Chile as the country's competition watchdog (Corporación Nacional de Consumidores y Usuarios—CONADECUS) is apprehensive that it might hurt the country's aviation market.

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