Overview
- Abra Group and SKY Airline submitted documentation to competition authorities to incorporate the Chilean carrier into the group.
- The parties reached an agreement-in-principle, with the transaction contingent on regulatory clearance, definitive documentation and closing conditions.
- During the approval process, each airline will continue independent operations with existing processes, sales channels and customer service unchanged.
- At closing, Abra plans to consolidate ownership of SKY as current majority owners become minority shareholders of Abra, while SKY keeps its brand and Holger Paulmann remains board chairman.
- Abra includes Avianca and Gol and holds a strategic investment in Wamos Air, spans roughly 140 destinations with about 300 aircraft and nearly 30,000 employees, and is reported to already hold a 40% stake in SKY.