Avianca Holdings (formerly AviancaTaca AirHoldings Inc.) is a Latin American airline holding company formed in February 2010 by the merger of two airlines, Avianca from Colombia and TACA Airlines from El Salvador. The company is a subsidiary of Synergy Group, a South American conglomerate based in Rio de Janeiro, Brazil. Avianca Holdings S.A. is headquartered in Panama City, Panama.
The company is the second largest airline holding in Latin America by revenue and fleet size after LATAM Airlines Group based in Santiago, Chile. With a fleet of 173 aircraft and more than 19,000 employees, Avianca serves over 100 destinations in America and Europe, which connect to over 750 destinations worldwide through codeshare agreements with partner airlines. Avianca carried 24,6 million passengers in 2013. The company's main competitors are LATAM Airlines Group, Gol Transportes Aéreos and Azul Brazilian Airlines.
On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that the company's Chairman Germán Efromovich is linked to an offshore conglomerate used for the aerocommercial holding business with ramifications in Bermuda, Panama and Cyprus. Efromovich used a Panamanian offshore that hid more than 20 firms located in tax havens. The conglomerate was used by Avianca Holdings in the purchase of MacAir Jet, now Avianca Argentina, aircraft company owned by Macri Group, for an amount of $10 million. Allowing Avianca to make headway in the low-cost carrier business in Argentina. The Argentine government accepted this offshores as a financial guarantee to assign air routes to Avianca which is now being investigated by the Argentine federal justice system.
Shareholding composition of Avianca Holding S.A. as of September 30, 2016:
- Synergy Aerospace Corp. (Efromovich Family) - 51,53%
- Avianca Holdings S.A. ADR PROGRAM - 12,56%
- Kingsland Holdings Ltd. (Kriete Family) - 14.46%
- Norges Bank - 0.65%
- Several pension funds plus numerous individual investors, mostly Colombian and others - 20,8%
- fatos e números Archived April 2, 2013, at the Wayback Machine Pagina oficial da Star Alliance, Julho 2012
- BVC: PFAVH
- Quiénes Somos Avianca Holdings S.A. Fact Sheet, aviancaholdings.com, retrieved 16 June 2017
- Avianca Holdings - Corporate Presentation 2014. aviancaholdings.com. Retrieved 14 May 2015
- Delfino, Emilia; Crucianelli, Sandra; Fitz Patrick, Mariel; Brom, Ricardo; Jastreblansky, Maia; Ruiz, Iván; Alconada Mon, Hugo (10 November 2017). "Paradise Papers - El entramado de más de 20 offshores detrás del desembarco de Avianca". Perfil. Retrieved 10 November 2017.
- "Composición Accionaria Avianca Holdings S.A." (PDF).