Germán Efromovich, the chairman of Avianca Holdings, says recent reports in the international press linking the Colombia-based conglomerate's search for added capital to a possible all-out sale, are inaccurate.
In an interview with Caracol radio last week, Efromovich said discussions with other carriers, which reportedly include United Airlines (UA, Chicago O'Hare), Delta Air Lines (DL, Atlanta Hartsfield Jackson), and China's HNA Group, have centred on a potential strategic partnership and not a buy-out.
"Avianca is not for sale," he said. "We are in talks with a number of people but any information circulating is purely speculative because there is still nothing. And it may be that this nothing ends in nothing or that it ends in a very important partnership."
The Wall Street Journal has said the Colombians are looking to raise USD500 million to help cover part of the cost of its fleet renewal programme which will require USD1.8 billion in total.
