Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
AVIANCA, the national airline of Colombia, has rejected a possible strategic partnership with US major Continental Airlines and has instead selected Brazilian conglomerate Grupo Sinergy as a major new investor. The Bogota-based carrier has been under court protection since it filed for bankruptcy protection in March 2003 but with its final deadline to secure new investment looming the company's board has approved its sale to the Brazilian company, the owner of regional carrier Ocean Air. Grupo Sinergy is acquiring a 75% stake in the embattled Colombian carrier, 50% being purchased from financial group Valores Bavaria and the rest from Colombia's National Coffee Growers' Association. The company has also agreed to assume around $300 million of Avianca's debt.