{"id":166595,"date":"2024-07-01T15:00:24","date_gmt":"2024-07-01T15:00:24","guid":{"rendered":"https:\/?p=166595"},"modified":"2024-07-01T22:28:43","modified_gmt":"2024-07-01T22:28:43","slug":"avianca-plans-to-confidentially-file-for-us-ipo","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2024\/07\/avianca-plans-to-confidentially-file-for-us-ipo.html","title":{"rendered":"Avianca plans to confidentially file for US IPO"},"content":{"rendered":"\n

Avianca Group<\/strong> plans to confidentially file for an initial public offering in the United States, the holding company for the Colombian airline said on Monday.<\/p>\n\n\n\n

The airline is moving ahead with its listing more than two years after it emerged from bankruptcy.<\/p>\n\n\n\n

Avianca was one of the major Latin American airlines that filed for bankruptcy during the pandemic, hurt by a downturn in travel demand.<\/p>\n\n\n\n

The airline, which had filed for Chapter 11 bankruptcy in May 2020 after it failed to meet a bond payment deadline, exited bankruptcy proceedings in December 2021.<\/p>\n\n\n\n

In May 2022, Avianca and Brazilian carrier Gol struck an agreement to combine under a single leadership named Abra Group.<\/p>\n\n\n\n

\u2192 Avianca inaugurated a new route between Medellin and Buenos Aires<\/a><\/em><\/strong><\/p>\n\n\n\n

The timing and execution of the IPO are subject to market conditions, Avianca said.<\/p>\n\n\n\n

Avianca, which is the second-oldest airline in the world currently in operation, swung to a profit of $13 million in the first quarter, as it transported 9.3 million passengers, a 37.5% jump compared to a year earlier.<\/p>\n\n\n\n

The airline booked total operating revenue of $1.27 billion during the same period, up from $1.09 billion a year earlier.<\/p>\n\n\n\n

Avianca’s fleet comprises of 147 Airbus 320 and Boeing 787s Dreamliner aircraft as of late June.<\/p>\n\n\n\n

Avianca is the latest Latin American airline seeking to tap into the deeper capital and richer valuations that the U.S. markets offer.<\/p>\n\n\n\n

Earlier this year, Aerom\u00e9xico also filed its paperwork to go public in New York as it eyes a return to stock markets.<\/p>\n\n\n\n

LATAM Airlines is also working on re-listing its shares on the New York Stock Exchange.<\/p>\n\n\n\n

With information from Reuters<\/a><\/p>\n\n\n\n

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