avianca airlines (AV, Bogotá) parent Avianca Group announced in a brief statement on July 1 that it will "confidentially submit" to the US Securities and Exchange Commission (SEC), a draft registration for an initial public offering (IPO) of its ordinary shares on a US bourse.
If it wins approval, the company will press ahead with the listing, two-and-a-half years after it emerged from Chapter 11 bankruptcy. However, the timing and execution of the IPO are subject to market conditions.
In the first quarter of 2024, Avianca Group posted total operating revenues of USD1.26 billion with a net income of USD13 million, both representing year-on-year increases from USD1.08 billion in total revenues and a USD12 million net loss for the first quarter of 2023.
This year, Aeroméxico (AM, México City International), another Latin American carrier that underwent Chapter 11 restructuring during the Covid-19 pandemic, also announced its plans to IPO in the United States.
avianca airlines is part of Abra Group alongside GOL Linhas Aéreas Inteligentes, which is currently in Chapter 11. This holding company recently disclosed an investment in Wamos Air, and a joint venture with Volotea.
