FlyerTalk Forums - View Single Post - Avianca's majority shareholder (used shares as collateral) breached UCH loan terms
Old May 28, 2019, 6:06 am
  #8  
narvik
 
Join Date: May 2010
Location: AVP & PEK
Programs: UA 1K 1.8MM
Posts: 6,275
Originally Posted by dilanesp
Here's a story on the MAX cancellations.

https://www.yahoo.com/finance/news/u...190744331.html
I found the 'apropos' at the end of that article far more interesting than the MAX issue:

"Separately, United said on Friday it had launched a management overhaul at Colombia's cash-strapped Avianca Holdings, with which it is pursuing a three-way tie up with Panama's Copa.
The move, which removes Avianca's top shareholder, German Efromovich, from control and hands it to a third party, follows a default by his holding company on a $456 million loan from United.
United has been seeking to expand in Latin America, which is considered ripe for air travel growth."

Last edited by WineCountryUA; May 28, 2019 at 9:18 am Reason: Moved to appropriate thread
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