Avianca Completes Sansa and La Costeña Sale

The airline completed the sale of its shareholding in the Central American companies Sansa and La Costeña, which operate domestic flights in Costa Rica and Nicaragua, respectively.

Wednesday, June 5, 2019

The completion took place on May 31, 2019 and is an improvement of the share purchase agreement signed on April 22 between the parties, reported Avianca in a statement.

See "Avianca Sells Shares in Sansa and La Costeña" and " The Region Loses Air Connectivity

From the Avianca statement:

Bogotá, San José and Managua, June 04, 2019.  In accordance with the corporate transformation plan announced by the company, Avianca Holdings S.A., through its subordinates Grupo Taca Holdings Limited and Nicaragüense de Aviación S.A., closed the sale of its shareholding in (i) Turboprop Leasing Company Ltd., owner of the Costa Rican airline Servicios Aéreos Nacionales S.A. (SANSA), and in (ii) the Nicaraguan airline Aerotaxis La Costeña S.A. (La Costeña).  These airlines operate domestic flights in Costa Rica and Nicaragua respectively.

The buyer is Regional Airlines Holding LLC, established in Delaware, United States. The transaction was closed on May 31, 2019 and is an improvement of the share purchase agreement signed on April 22 between the parties.

Read full statement (In Spanish).



More on this topic

Avianca Sells Shares in Sansa and La Costeña

April 2019

The company sold its stake in the Central American airlines Sansa in Costa Rica and La Costeña in Nicaragua, both dedicated to the operation of domestic flights.

Avianca clarified that Avianca's international routes served from Juan Santamaría International Airport in Costa Rica and Augusto Sandino International Airport in Managua, Nicaragua, will continue to operate normally.

Avianca Restructuring its Operation in Costa Rica

April 2019

The airline reported that it will reduce its payroll in the country, as part of the process of organizational restructuring and routes that began this year.

Without specifying the number of employees who will be laid off, Avianca reported that it plans to restructure its operations in the country.

Airlines: Strategic Alliance in the region

December 2018

Avianca, United Airlines and Copa Airlines, signed a trade agreement that will allow them to agree flight routes in the American continent.

To ensure the commercial agreement reached on November 30th becomes effective, the three airlines plan to apply for regulatory approval and a complementary antitrust immunity (ATI) subsidy in the coming weeks from the U.S.

Avianca to Partner with United Airlines

February 2017

Dismissing the proposals by the Panamanian company Copa and that of Delta, Avianca Holdings has announced it will start the process of finalizing a strategic and commercial alliance with United Airlines.

Nearly two months after it became known that three airlines were negotiating with Avianca over a potential acquisition processes , the airline announced that "... it has decided to advance the realization of a strategic-commercial long - term alliance with United Airlines, whose terms are still to be negotiated."

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