Avianca Group

Avianca Group International Limited (formerly Avianca Holdings S.A. and AviancaTaca Holding Inc.) is a pan-regional Latin American multinational airline holding company with its registered office in St Albans, England, and its global headquarters in Bogotá, Colombia. It was formed in February 2010 after a merger agreement between Avianca and TACA Airlines, the flag carriers of Colombia and El Salvador respectively, when Avianca and TACA became wholly owned subsidiaries of Avianca Holdings. TACA's shareholders were given 29% and Avianca's shareholders were given 71% of the shares in the new company.^[2][3][4]

Avianca Group International Limited

Avianca Headquarters in Bogotá
Company type	Private limited Company
Industry	Air transport
Founded	February 2010
Founder	Ernesto Cortissoz
Headquarters	St Albans, England, UK (Registered office) Bogotá, Colombia (Corporate headquarters)
Number of locations	Bogotá San Salvador San José (CR) Quito
Key people	Frederico Pedreira (CEO) Roberto Kriete (Chairman)
Products	Air passenger transport (Avianca) Air cargo transport (Avianca Cargo) Ground cargo transport (Deprisa) Aircraft maintenance and staff training (Avianca Services) Frequent-flyer program (LifeMiles) Travel and holiday services (Avianca Tours) Air taxi and charter services (Helicol)
Revenue	US$ 4.3 billion (2012)
Net income	US$ 198.6 million (2012)
Number of employees	+19,000
Parent	Abra Group
Subsidiaries	Avianca Helicol Avianca Cargo AeroUnion Avianca Costa Rica Avianca Ecuador Avianca El Salvador Avianca Express Avianca Guatemala Avianca Honduras Avianca Services Deprisa
Website	ir.avianca.com
Footnotes / references fleet size: 107 (134, regional and charter)[1] destinations: 100

The company was previously listed on the New York Stock Exchange and the Colombia Stock Exchange as Avianca Holdings. Since its inception, the Avianca Group has expanded its portfolio of operations and brands with the acquisition of the Mexican AeroUnion in 2014. The Group also owns the Avianca Express brand and the rewards program LifeMiles.

Operations

The company is the second largest airline holding in Latin America by revenue and fleet size after LATAM Airlines Group based in Santiago, Chile. With a fleet of 173 aircraft and more than 19,000 employees, Avianca serves over 100 destinations in America and Europe, which connect to over 750 destinations worldwide through codeshare agreements with partner airlines. Avianca carried 24.6 million passengers in 2013.^[5]

Subsidiaries

Current

• Avianca
  • Helicol
  • PAS - Petroleum Aviation and Services
• Avianca Cargo
  • AeroUnion
• Avianca Costa Rica
• Avianca Ecuador
• Avianca El Salvador
• Avianca Express
• Avianca Guatemala
• Avianca Services
• Deprisa

Former

• Aeroperlas^[6]
• Avianca Honduras
• Avianca Perú
• La Costeña
• SANSA
• Servicios Aeroportuarios Integrados^[7]
• Vuelos Internos Privados

Shareholding

Former logo

Shareholding composition of Avianca Holding S.A. as of March 31, 2021:^[8]

• BRW Aviation LLC – 51.53 %
• Kingsland Holdings Limited – 14.46 %
• United Airlines – less than 1%
• Avianca Holdings S.A – 15.64 %
• Several pension funds plus numerous individual investors, mostly Colombian and others – 17.37%

Corporate affairs

The key trends for the Avianca Group are (as of the financial year ending December 31):^[9]

	Total revenue (US$ m)	Net profit[a] (US$ m)[10]	Number of employees (FTE)	Number of passengers (m)[b]	Passenger load factor (%)	Total aircraft	References
2011	3,794	99	17,360	20.4	79.6		[11]
2012	4,269	38	18,071	23.0	79.6	147	[12]
2013	4,609	248	19,153	24.6	80.5	171	[11]
2014	4,703	128	19,961	26.2	79.4	193	[13][14]
2015	4,361	−139	20,485	28.2	79.7	193	[13]
2016	4,138	44.2	20,449	29.4	81.1	191	[15]
2017	4,441	82.0	18,641	30.5	81.7	187	[16]
2018	4,890	1.1	18,338	30.6	83.0	191	[17]
2019	4,621	−894	16,707	30.5	81.7	196	[18]
2020	1,711	−1,094	14,568	7.9	74.1	171	[19]
2021	336	−15.1				150	[20]
2022	4,047	−322		24.6		140	[20][21]
2023	4,771	131	19.000	54.7	82,2%	140

Paradise Papers

On November 5, 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that the company's former Chairman Germán Efromovich was linked to an offshore conglomerate used for the aero-commercial holding business with ramifications in Bermuda, Panama and Cyprus. Efromovich used a Panamanian offshore that hid more than 20 firms located in tax havens. The conglomerate was used by Avianca Holdings in the purchase of MacAir Jet, now Avianca Argentina, an aircraft company owned by Macri Group, for an amount of US$10 million. Allowing Avianca to make headway in the low-cost carrier business in Argentina. The Argentine government accepted these offshores as a financial guarantee to assign air routes to Avianca which is now being investigated by the Argentine federal justice system.^[22]

Bankruptcy

On May 10, 2020, Avianca filed for Chapter 11 bankruptcy in the United States after failing to pay bondholders, becoming one of the major airlines to file for bankruptcy due to the COVID-19 pandemic crisis.^[23][24][25]

In November 2020, the U.S. Bankruptcy Court for the Southern District of New York approved its $2 billion refinancing plan.^[26][27]

In November 2021, Avianca Holdings announced they would move their legal address from Panama to the United Kingdom, and that they would change their name to Avianca Group.^[28] On December 1, 2021, Avianca emerged from Chapter 11 bankruptcy for the second time in its history.^[29]

Fleet

As of August 2024^[update], the fleet of the Avianca Group consists of the following aircraft:^[30]

Aircraft	In service	Orders	Passengers					Notes
			C	W	Y+	Y	Total
Airbus A319-100	8	—	–	12	48	84	144	To be retired by 2024.[31]
Airbus A320-200	79	—	–	12	60	108	180
			–	–	–	188	188	Former Viva Air Colombia aircraft.[32]
Airbus A320neo	45	43[33]	–	12	60	108	180
			–	–	–	188	188	Former Viva Air Colombia aircraft.[32]
Boeing 787-8	15	1[34]	28	–	–	222	250
			20	–	–	271	291
			32	–	–	259	291	Former Norwegian Long Haul aircraft.[35]
Cargo fleet
Airbus A330-200F	6	—	Cargo
Airbus A330-200P2F	—	2[36]
Airbus A330-300P2F	1	1
Total	154	47

See also

• List of airline holding companies

Notes

1. "Net profit/net loss from the period"
2. "Total passengers carried"