Brazil's Synergy Group, parent firm to Colombia's Avianca Holdings, has announced it will acquire up to 49% of Aeromar Airlines (México City International) as it seeks to expand its market presence across Latin America.
Synergy Chairman German Efromovich told a Latin America and Caribbean Air Transport Association (ALTA) conference on Monday that the conglomerate would invest roughly USD100 million in the purchase. It will initially acquire 25% of the Mexican carrier's voting shares with 24% of its regular shares to follow.
Aeromar currently operates four ATR42-300s, ten ATR42-500s, one ATR42-600, and two ATR72-600s on scheduled passenger flights to twenty-seven destinations across Mexico and Tucson in the United States.
"It opens up a lot of potential in the cross-border market between Mexico and the United States, in medium-sized cities," Andrés Fabre, CEO of Aeromar, said. "Just as we announced the second route to Tucson International, there are many more city-pairs where we can interconnect the southern United States to northern and central Mexico."
The purchase is subject to both Mexican and Brazilian regulatory scrutiny.
