Avianca and GOL to merge as owners create Abra Group

Photo: © BriYYZ (CC BY-SA 2.0)

Shareholders of Colombian airline group Avianca Holding and Brazilian airline GOL have announced the creation of Abra Group, a new holding company in control of both carriers.

Abra Group will be incorporated in England and jointly owned by the main shareholders of Avianca and MOBI FIA, the majority shareholder of GOL. The deal is expected to close in the second half of 2022. Constantino de Oliveira Júnior, Founder of GOL, will act as CEO of the new company, while Roberto Kriete, current Chairman of the Board of Avianca, will become Abra’s Chairman. Adrian Neuhauser, CEO of Avianca, and Richard Lark, CFO of GOL, will act as Co-Presidents.

The two airlines say they will maintain their own brands and continue to operate independently. This also applies to Avianca’s subsidiaries, including the recently acquired Viva Air.

Avianca was founded in 1919, making it one of the oldest airlines still operating today. Gol Linhas Aéreas Inteligentes commenced operations in 2001 and has since become one of the three main airlines in Brazil, competing with Latam Brasil and Azul Linhas Aéreas.