Avianca and TACA create a new joint venture

Avianca (Bogota) and TACA (Grupo TACA) (San Salvador) have closed their new shareholders agreement. After completing the required regulatory and antitrust approvals to create the new joint venture, announced in October 2009, Synergy Aerospace Corp., majority shareholder of Avianca, and Kingsland Holding Limited, owner of Grupo TACA, announced they have closed their agreement to officially start its strategic integration.

This agreement allows the shareholders to contribute their investments in Avianca and Grupo TACA into a new company which will be named “AVIANCA-TACA Limited” based in the Bahamas, in which Synergy Aerospace Corporation will own 67 percent and Kingsland Holding Limited the other 33 percent.

Grupo TACA includes TACA International, and its share in LACSA, TACA Peru, AVIATECA, SANSA, La Costena, Aeroperlas and Islena Airlines. AVIANCA includes: Avianca, SAM and TAMPA, as well as the purchase option that Grupo Synergy has in AeroGal in Ecuador and OceanAir in Brazil.