Colombian airline Avianca sells ground services subsidiary

SAI operates passenger and goods handling and operational dispatching and operates at 13 of Colombia’s airports, in Bogotá, Medellín, Cali, Cartagena, Armenia, Corozal, Barranquilla, Bucaramanga, Montería, Ibagué, Neiva, Pereira and Pasto.

The sale of SAI means that Avianca will no longer have its own ground logistics operations company at the different airports in the country. However, this will allow it to simplify certain processes, allowing it to optimize its services, according to Avianca president Adrian Neuhauser, who said the divestment will allow it to be a more competitive company.

Avianca will maintain its other subsidiaries, such as Avianca El Salvador, Avianca Cargo, Star Alliance and Life Miles.

Talma, a company specialized in airport ground handling services, has a subsidiary in Colombia. With this acquisition, Talma continues to expand its expertise and business in Latin America.

The deal involved AV Investments Two Colombia S.A.S., as controlling shareholder, together with Grupo Sandoval, selling their 100% ownership interest in SAI.

The sale was part of Avianca’s Chapter 11 restructuring, which obligated the airline to sell businesses that were no longer strategic to its core business.

Avianca filed for bankruptcy in 2020 as a result of the collapse of air travel due to the pandemic.

Avianca was represented and advised on the transaction by Colombian law firm Gómez-Pinzón, with a team led by partners Lina Uribe, Andrea Stephanou and Cristina Uribe.