Avianca Sells Shares in Sansa and La Costeña

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.

Wednesday, April 24, 2019

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.

You may be interested in "Avianca Restructuring its Operation in Costa Rica" and "The Region Loses Air Connectivity"

From the Avianca statement:

Bogotá, San José and Managua, April 24, 2019.  Consistent with the corporate transformation plan announced by the company, Avianca Holdings, through its subsidiaries Grupo Taca Holdings (GTH) and Nicaragüense de Aviación SA (NICA), signed an agreement to sell all of its shares in Turboprop Leasing Company - Costa Rica - and Aerotaxis La Costeña SA - Nicaragua - to Regional Airlines Holding LLC, domiciled in Delaware, United States.

GTH owns 68% of the shares of Turboprop, which is a shareholder of Servicios Aéreos Nacionales S.A. SANSA, a domestic airline in Costa Rica. NICA owns 68.08% of La Costeña, which serves flights within Nicaragua.

In the agreement, the current minority shareholders of both negotiated airlines acted as guarantors of the buyer's obligations. The closing of the sale and the respective transfer of shares contemplated in the agreement is subject to compliance with certain preceding conditions.

This sales agreement is part of the Holding Company's new corporate strategy that seeks to strengthen its international passenger transportation segment, as well as focus on the loyalty (LifeMiles) and cargo (Avianca Cargo) business units.

Finally, it is clarified that Avianca's international routes that are served from Juan Santamaría International Airport in San José-Costa Rica and Augusto Sandino International Airport in Managua-Nicaragua will continue to operate normally. For their part, the routes operated by SANSA and La Costeña will continue to operate regularly under their current itineraries.

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More on this topic

Avianca Completes Sansa and La Costeña Sale

June 2019

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.

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.

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Avianca

Organization that operates in Costa Rica, Panama and Colombia.
Phone: (517) 4738370

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