Avianca Holdings has announced it has acquired 90% of Servicios Aeroportuarios Integrados (SAI), a Colombian gorundhandling services specialist with a presence at each of Bogotá, Cali, Medellín José Maria Córdova, Cartagena Rafael Núñez International, and Armenia airports. The transaction closed on October 17 for an undisclosed amount.

Avianca Holdings said in a statement the purchase forms part of its growth and income diversification strategy. As such, it will now have its own specialized airport ground services company, which controls 18.5% of the Colombian market.

“The acquisition of Servicios Aeroportuarios Integrados, SAI, constitutes a key step for Avianca’s strategic development plan," Avianca Holdings’ Executive President and CEO, Hernán Rincón, said. "The inclusion of this new business unit, dedicated to an essential duty to guarantee passenger air transportation quality, will allow us to optimize ground services for the airline and for third-party companies, while we diversify the holding’s income."