Summa767
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Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 12:55 am

I have just heard on Colombian radio Captain Alberto Padilla, spokesman for Avianca's pilots, confirm that there have been conversations for a month or so with inversionists based in Dubai for an 11th hour bid for the Colombian airline.

The pilots union would be more in favour of the new bid as it promises to guarantee the pilots pensions fund, even if the airline is liquidated in the future.

These conversations are unlikely to be favoured by company directives, as the restructuring plan agreed with favoured bidder, Brazilian Germán Efromovich's OceanAir, is making good progress under Chapter 11 proceedings in New York. However, they may be obliged to look at a fresh bid, if it offers better guarantees.

I wonder who these Dubai based people are. Anything to do with Emirates?
Uhm, if so they'd be likely to push for a fleet change sooner rather than later..
 
Southamerica
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RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 1:25 am


Certainly interesting, although I never even remotely expected that at this point there would be anyone still interested.

If this is serious, then more detailed news should start popping out anytime, definitely expecting to see and hear more.


SOUTHAMERICA
 
Summa767
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RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 1:34 am

You will certainly see the news on "La W" radio station. The interview should be available on their website very soon. http://wradiofm.com/

Captain Padilla did not want to say much, as he admitted that there was nothing concrete, only that the new potential investor has been looking into the company's situation for a month or so. He gave the impression that it was them who are more interested than Avianca directives.
If it's somebody like Emirates, then that could indeed be very interesting. Note that EK own the majority of Srilankan, so it would not be the first venture outside their own network.


[Edited 2004-09-10 18:47:30]
 
RCS763AV
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RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 5:05 am

Crazy if you ask me. AV should not let efromovich go.
 
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tavong
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RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 11:23 am

Pretty strange, at this point would be difficult to see that anyone else could be interested but if this is true this will beeame very interesting.

Gus
SKBO
Just put me on any modern airliner and i will be happy, give me more star alliance miles and i will be a lot more happy.
 
757MDE
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Joined: Sat Sep 11, 2004 11:45 am

RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 1:04 pm

Well, it's pretty weird but legally the final owner of Avianca can still change if the conditions turn out to be better for the airline.
Efromovich knows that, that's why he said in the contract that if the deal failed for him because the airline finally went for another owner, he had to be paid looots of money.

Now, if another owner finally kicked in, most of the C-11 would have to be redone because it is aproved, but aproved with Efromovich as new owner, not with somebody different. Going through C-11 would destabilize the airline a bit in my humble opinion but I think that if a owner offering better conditions comes... just welcome it!.

By now, I'll just stick to Synergy and wait any gossip to be true...
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Southamerica
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RE: Dubai Inversionist Might Bid For Avianca

Sat Sep 11, 2004 1:11 pm

Efromovich knows that, that's why he said in the contract that if the deal failed for him because the airline finally went for another owner, he had to be paid looots of money.

Not to mention that some weeks before the company's approval of the plan, he was already saying that if another bidder was to appear and make the company doubt of choosing Synergy, he would quit and cancel the proposal.


SOUTHAMERICA
 
Summa767
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RE: Dubai Inversionist Might Bid For Avianca

Sun Sep 12, 2004 2:07 am

I also think that a further delay in exiting Chapter 11 will harm the company, as it maintains the uncertainy and keeps it from taking a definitive direction into development and growth.
I am sure Mr Efromovich has all the will in the world to make Avianca a successful and ever growing airline. However, one thing that he does not have is the expertise and the clout in the area that a big airline would have. Useful when you come to, at some point in the future, shop for new aircraft.

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