The South American Abra Group, which controls the airlines Gol, from Brazil, and Avianca, from Colombia, announced that it is making a strategic investment in Wamos Air, from Spain.
The Madrid-based company was founded in 2003 and provides charter and wet-leasing flight services for several airlines.
Its fleet, according to Abra, comprises 12 Airbus A330s, which fly for airlines such as Air Europa, Air New Zealand, Avianca, Aer Lingus, Condor, Etihad, Iberia, Level, Saudia Airlines, TAP Air Portugal, among others.
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The value of the investment is 129 million euros (US$139 million), but details of the agreement will only be disclosed after the transaction is completed.
“We celebrate the signing of this agreement for multiple reasons. First, because Wamos Air is a gem in the world of ACMI and air charter operations and has global experience operating in multiple markets. Second, because its business model perfectly complements Abra’s vision and strategy of being a leader in air transportation in Latin America. And third, because this partnership will allow us to participate in long-haul markets with wide-body aircraft in other countries beyond our current Colombia operation,” stated Adrian Neuhauser, CEO of Abra Group .
According to Abra, Wamos Air will maintain its leadership team and will operate independently in its current business model.
Diverse fleet
The Abra Group was founded in 2022 by uniting shares in Avianca, the largest carrier in Colombia, and Gol, one of the main airlines in Brazil.
Gol, however, is undergoing financial restructuring in a process filed in January in the United States. Abra’s partners provided emergency financing so that the airline can continue to operate while negotiating its debts.
Both Avianca and Gol operate very different aircraft fleets. While the Brazilian airline only has Boeing 737s in service, Avianca uses narrow-body Airbus jets and Boeing 787s for long-haul flights.
Avianca stopped flying the A330 in passenger configuration years ago, but has seven aircraft of the type as freighters.
The completion of the transaction still depends on approval from the authorities.