Avianca, which finalized its merger with Grupo TACA last month, plans to continue growing with the acquisition of Quito-based Aerogal, CEO Fabio Villegas said. Speaking last week to journalists in the Ecuadoran capital, he said Avianca parent Synergy Aerospace intends to invest $7.2 million on an 80% stake in Aerogal while TACA parent Kingsland Holding will acquire the remaining 20%, Dow Jones reported. Government approval is pending. Villegas said Aerogal will take delivery of three new ...

Subscribe to Access this Entire Article

"Avianca, TACA to purchase Ecuador's Aerogal" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.