UK-based Abra Group, comprising Avianca and Gol, is nearing the acquisition of SKY Airline. The group has reached an agreement-in-principle with the Chilean airline to further the acquisition process.
Goal to strengthen LATAM connectivity
Abra Group, which currently operates Avianca and Gol, aims to strengthen connectivity in the Latin American region with this acquisition. The preliminary agreement is subject to regulatory approval.
Adrian Neuhauser, CEO of Abra Group, said:
“SKY is an airline that shares our purpose: prioritizing access to air travel. At Abra, we want more people across Latin America to fly easily, reliably, with the best network of connections, friendly service and competitive fares. Bringing SKY into the Group will allow us to continue strengthening the region’s air market.”
While definitive documents are being completed, the company will operate independently.
Once the transaction is completed, SKY’s ownership will be consolidated. Investors who currently hold the majority of the Chilean airline’s shares will become minority shareholders of Abra when the deal comes through. SKY Airline will be keeping its brand, culture and its employees while Holger Paulmann will continue to serve as Chairman of its Board. The airline will continue to operate as it is today, Abra has said.
“This is great news for our company and for our passengers,” said Holger Paulmann, President of SKY Airline. “Once the preliminary agreement submitted today to the respective competition authorities is approved, SKY will become part of a group that currently operates a combined fleet of more than 300 aircraft and connects over 140 destinations across more than 25 countries. This will mean more routes, more opportunities, and more travel options for our passengers — all while staying true to our essence.”
About Abra Group
Beyond Avianca and Gol, the Abra Group also holds a strategic investment in Wamos Air. Its connectivity is spread across 140 destinations in over 25 countries. Airlines under the group combined operate a 300-aircraft fleet with around 30,000 employees. They carry 70 million passengers annually.
Brazilian airline Gol operates a standardised fleet of 139 Boeing 737 aircraft. Avianca, which is the world’s second-oldest airline, has over 140 A320 and B787 passenger aircraft in its fleet. The airline also possesses six cargo aircraft. Abra Group’s latest investment, the European airline Wamos Air, is known for its wide-body ACMI operations. Its fleet comprises 13 A330 passenger aircraft.
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