The airlines Avianca and Gol want to create a joint holding company under the name Abra Group. However, the carriers should continue to remain active on the market under their own brands.

The majority shareholders of Gol and Avianca will contribute their interests in return for shares in the new holding company, which will be based in the UK. The management team of the Abra Group will consist of Roberto Kriete (Avianca), Oliveira Junior (Gol), Adrian Neuhauser (Avianca) and Richard Lark (Gol). The managers will retain their previous positions with the airlines.

The transaction is currently expected to close in the second half of 2022. The two companies have announced that they have commitments from unspecified investors. They are to invest about 350 million US dollars in the Abra Group.