United Airlines overhauls Avianca management structure
United Continental has indicated plans to extend a loan to Avianca Holdings, after the two companies agreed on a leadership reshuffle that involved a loss of voting rights for Avianca’s largest shareholder. The management overhaul comes after former Avianca CE Hernan Rincon resigned in April. The shake-up was prompted the default on a US$456m loan from United by majority shareholder BRW Aviation, a subsidiary of Synergy Aerospace, which owns 78.1% of Avianca’s common stock. BRW is owned by Germán Efromovich. “While Avianca will remain an independent company and continue to run their own airline, United strongly supports their company-wide focus on transformation,” a United spokeswoman said. "We will see better benefits for our customers and for our company if Avianca is a reliable, successful partner.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-31/star/united-airlines-overhauls-avianca-management-structure
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United Airlines overhauls Avianca management structure
United Continental has indicated plans to extend a loan to Avianca Holdings, after the two companies agreed on a leadership reshuffle that involved a loss of voting rights for Avianca’s largest shareholder. The management overhaul comes after former Avianca CE Hernan Rincon resigned in April. The shake-up was prompted the default on a US$456m loan from United by majority shareholder BRW Aviation, a subsidiary of Synergy Aerospace, which owns 78.1% of Avianca’s common stock. BRW is owned by Germán Efromovich. “While Avianca will remain an independent company and continue to run their own airline, United strongly supports their company-wide focus on transformation,” a United spokeswoman said. "We will see better benefits for our customers and for our company if Avianca is a reliable, successful partner.” <br/>
