The infrastructure in most airports in Central America can not cover the increase in the number of air passengers transiting in the region.
In the region, traffic has increased by almost 80% over the last ten years going from 95 million to 170 million passengers. "Today, 30% of Latin American flights take off or land at congested airports, which constitutes one of the main difficulties in the development of the airline industry," noted an article in Eleconomista.net.
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%. Efromovich explained the proportions resulted from the respective weight of both companies in terms of financial results, assets and passenger volume", reported newspaper La Prensa Gráfica.
Five years ago Avianca was on the brink of bankruptcy. After purchasing TACA, it is one of the largest airlines of Latin America.
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".
An interview with Roberto Kriete, CEO of the airline, in which he analyzes the measures that they will take to overcome the crisis.
After surviving the ups and downs of the global economy in 2008 and record oil prices, the radars of the aviation industry in Latin America have been activated and they are cautiously preparing for 2009, a year which will bring uncertainty.
TACA, the international airline for today's modern traveler, revealed its new image during an event at the El Salvador International Airport.
"At TACA we are starting an integral transformation," said Roberto Kriete, President of the Board of Directors and CEO of TACA.
"We are aware of that the economic conditions that our industry is going through are complicated, however these changes that we are implementing in order to continue strengthening our airline, are a part of a long term strategy based on the knowledge of our clients' needs and our desire to fulfill them."