Colombian airline Avianca plans to file for IPO in the United States
Avianca Group is preparing for an initial public offering (IPO) in the United States, the holding company for the group, Investment Vehicle 1, said on July 1, 2024.
The filing to become a listed company will be done under the confidential IPO procedure. Since 2012, the process has allowed companies to conduct part of the filing process with the Security and Exchanges Commission (SEC) while keeping part of the corporate information private. However, all relevant information is ultimately made public as per the usual stock market requirements.
Avianca, which was temporarily under bankruptcy protection between May 2020 and December 2021, returned to profitability in 2023, posting a net income of $131 million for the full year.
The IPO announcement has arrived amid a period of frenzied corporate activity for Abra Group, which is the parent company of Avianca and its related companies as well as Brazilian low-cost carrier GOL.
In May 2024 Abra Group announced the acquisition of an equity stake in Spanish charter and ACMI airline Wamos Air, and sealed a joint venture with Volotea, another Spanish carrier, in June 2024, with the aim of connecting their respective networks through Madrid-Barajas Airport (MAD). The post Colombian airline Avianca plans to file for IPO in the United States appeared first on AeroTime.
Avianca Group is preparing for an initial public offering (IPO) in the United States, the holding company for…
The post Colombian airline Avianca plans to file for IPO in the United States appeared first on AeroTime.
