United Airlines deepens commitment to Colombia’s Avianca
United Continental said it is prepared to lend money to Avianca Holdings, part of a deal that would side-line the Colombian air carrier’s biggest shareholder and could help solidify the US carrier’s presence in a fast-growing region for air travel. United’s commitment to Avianca under a just-recast board of directors—after the carrier’s biggest investor defaulted on a US$456m loan from United itself—sent the Colombian carrier’s American depository-receipt shares soaring more than 30%. “We will see better benefits for our customers and for our company if Avianca is a reliable, successful partner,” United said. United added it would be willing to loan Avianca up to US$150m. Avianca’s shareholders Friday retooled the board and replaced Efromovich as chairman with Kingsland owner Roberto Kriete. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-27/star/united-airlines-deepens-commitment-to-colombia2019s-avianca
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United Airlines deepens commitment to Colombia’s Avianca
United Continental said it is prepared to lend money to Avianca Holdings, part of a deal that would side-line the Colombian air carrier’s biggest shareholder and could help solidify the US carrier’s presence in a fast-growing region for air travel. United’s commitment to Avianca under a just-recast board of directors—after the carrier’s biggest investor defaulted on a US$456m loan from United itself—sent the Colombian carrier’s American depository-receipt shares soaring more than 30%. “We will see better benefits for our customers and for our company if Avianca is a reliable, successful partner,” United said. United added it would be willing to loan Avianca up to US$150m. Avianca’s shareholders Friday retooled the board and replaced Efromovich as chairman with Kingsland owner Roberto Kriete. <br/>
