Gol and Avianca, two major Latin American airlines, will team up

Gol and Avianca, two major airlines from Brazil and Colombia respectively, announced on Wednesday a deal to join forces under the same parent company, the Abra Group Limited, which will be based in the United Kingdom. The new entity will also own the economic interests of low-cost carrier Viva in Colombia and Peru (but without a controlling role) and a minority stake in Chile’s Sky Airline, the second-biggest in the country (behind Latam).

The deal, which was years in the making, is set to create a group with a combined annual revenue of USD 7 billion and a fleet of…

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