In a statement issued on the morning of May 11, the main shareholders of Colombian airline Avianca and the controlling shareholder of Brazilian airline GOL announced the signing of an agreement to create an air transport group under a holding company structure called Abra Group Limited, which will bear the trade name Grupo Abra.

The agreement, subject to regulatory approval and certain closing conditions, is expected to be finalized in the second half of this year.

As a result of the recently completed transaction between Avianca and Viva, the Group will also have the economic rights to the latter’s operations in Colombia and Peru but will not control them.

In addition, the group also incorporates a minority interest in SKY Airline, with a loan convertible into shares in 2026.

The group will be co-controlled by the main shareholders of Avianca and the majority shareholder of GOL, and will be led by:

Roberto Kriete, who will serve as Chairman of the Board of Directors (Chairman).

Constantino de Oliveira Junior, who will serve as Group CEO.

Adrian Neuhauser, currently President and CEO of Avianca, and Richard Lark, currently CFO of GOL, will serve as co-presidents of the Group and will retain their current positions at their companies.

Roberto Kriete, Chairman of the Group’s Board of Directors, said: «Our vision is to create an airline group capable of meeting the challenges of the 21st century and enhancing the flying experience for our customers, employees, partners, and the communities in which we operate. Our customers will benefit by having access to the best fares, more destinations, more flight frequencies, more convenient connections, and the ability to earn and use points through airline loyalty programs. In addition, they will be able to enjoy better benefits and access to superior products and services.»

Constantino de Oliveira Junior, CEO of the Group, said: «This agreement puts Abra’s airlines in a unique
Abra airlines in a leadership position in the region’s air transport market, serving a population of more than one billion people and a GDP of close to US$3 trillion – generating capacity and revenue growth opportunities. Our particular and unique company structure will allow each airline to pursue its results while maintaining the independence of its brands, talent, team and culture; and it will provide employees with more opportunities for personal and professional growth at every stage of their careers.»

This is a developing story.