Airline giants craving Latin America foothold eye Avianca deal

Some of the world’s biggest airlines, looking for a larger foothold in Latin America, may have found a path through Colombia. Avianca Holdings, based in Bogota, has been hunting for an international partner to help shore up its balance sheet and support growth. The publicly traded carrier is controlled by brothers German and Jose Efromovich, who also own a separate airline called Avianca Brasil through a closely held holding company. Some giants of the industry have been evaluating the idea. Earlier this year, Delta, United Continental Holdings and Copa Airlines made non-binding offers for a minority stake in Avianca Holdings, people familiar with the proposals said. There’s no guarantee any deal will be reached. Avianca Holdings offers potential suitors a point of entry into markets including Colombia, Peru, Costa Rica and Ecuador. The established brand and route network of the Bogota-based company would also offer Delta and United a way to make inroads in South America against American Airlines Group. “You want a piece of the action when things turn around,” Michael Boyd, an aviation consultant with BoydGroup International, said. “When you have a major carrier going north and south in American Airlines, if you can grab someone like this to keep them out of the open cloak of your competition, it makes sense.”<br/>