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.............................. Avianca Airlines
Logo and Trademark..............................
Avianca (Spanish acronym: Aerovías del Continente Americano, formerly Aerovías Nacionales de Colombia) has been the national flag air carrier of Colombia since 1919, making it the second oldest airline in the world behind KLM. Likewise it is the largest airline in the country. Avianca was founded in Barranquilla, but its main operation base and headquarters are in Bogotá adjacent to El Dorado International Airport where it operates domestic and international scheduled and chartered flights to cities in Europe, North America, Central America, the Caribbean and South America. Avianca operates five subsidiary airlines: SAM and Helicol in Colombia, OceanAir in Brazil, VIP in Ecuador and Capital Airlines in Nigeria. It has three important business units: Avianca Cargo (Deprisa), Avianca Services and the tour operator DesKubra.
On December 10, 2004, Avianca concluded one of the most important and ambitious reorganization processes undertaken after filing for Chapter 11 Bankruptcy Protection by obtaining confirmation of its Reorganization Plan which was financially backed by the Brazilian consortium OceanAir/Synergy Group and the National Federation of Coffee Growers of Colombia, allowing the airline to obtain funds for US$63 million dollars in the 13 months following withdrawal from C-11.
The Plan, which counted with the support of 99.8% of the voting creditors and which obtained the majority endorsement of the Creditors Committee, will enter into force once the Company emerges from bankruptcy. In accordance with United States laws, the administration has the trust obligation to consider any other investment proposal until the final term expiration stipulated. Notwithstanding, such offer, besides being better than the one that has been approved by Avianca’s domestic and international creditors and confirmed today by the Court, must be final, i.e. fully financed and backed with non-reimbursable cash deposits or equivalent mechanisms. Likewise, such proposal must be binding. As known, the only investment that complies with these requirements is that of OceanAir/Synergy Group and the National Federation of Coffee Growers of Colombia, which already makes part of the Reorganization Plan already voted favorably by the creditors and confirmed by the Judge.
Synergy Group is an evidenced credit-worthy Brazilian entrepreneurial conglomerate. Its strength lies in the oil sector, building, installing, and offering maintenance to offshore oil platforms; it is currently carrying exploration work in Brazil, Ecuador, and Colombia. Other businesses include the extraction of gas in the United States; naval construction, telephony infrastructure, hydroelectric power plants, communications and a hydrocarbons marine exploration company which extends throughout nine countries with more than 5,000 workers.
It also owns and operates OceanAir, which services around thirty cities in Brazil, as well as VIP, an airline in Ecuador, Taxi Aero, a charter airline in Brazil, and the recently acquired Wayra in Peru, as well as Turb Serv dedicated to the maintenance of turbines. Avianca, as part of its amitious expansion plan, plans to join SkyTeam in 2008 or 2009, sponsored by its longtime partner Delta Airlines.
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