Back in early June we reported that Delta and United were among the contenders bidding for a controlling stake in Colombian carrier Avianca. Well, Bloomberg today shares new details that both US carriers and potentially Copa are among the airlines still considering a deal.
The offers, due by Nov. 9, may include about $500 million in new capital for Bogota-based Avianca, plus a purchase of common stock from current shareholders, said the people, who asked not to be named because the talks are private. Avianca would consider offers for a controlling stake, the people said.
Avianca serves more than 100 destinations in 28 countries, with 180 airplanes operating 5,607 weekly departures. The carrier of course also operates the very popular LifeMiles loyalty program (which a sale to UA or DL would probably mark the end of in the future…so let’s hope for a stake instead).