Avianca Taca to buy 100% of Aerogal

Air carrier Avianca Taca has announced the acquisition of Ecuadorian air carrier Aerogal. 80% will be acquired by Avianca and 20% by Kingsland Holding Limited, the owner of Taca. Avianca will pour USD 7.20mn (EUR 5.28mn) into Aerogal. The Ecuadorian airline has a fleet of 12 aircraft. It will receive two new Airbus 320s in the second half of 2010. It will pay for them with a USD 54mn loan it received from Corporacion Financiera Nacional (CFN).

Publication: Esmerk - News monitoring
Provider: Esmerk
March 1, 2010

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