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SÃO PAULO – Avianca Brazil will receive a contribution from United Airlines until the end of January 2019, said Germán Efromovich, controller of Avianca Holdings, in an interview with the Colombian Channel 1 program , Pregunda Yamid. By the end of November, United Continental Holdings had agreed to Synergy – which belongs to the German Efromovich – a loan of 456 million dollars. To obtain the United loan, Efromovich used as collateral the shares held in Avianca Holdings
Synergy, based in Panama, holds a 100% interest in Synergy Aerospace, which holds 51.5%. from Avianca Holdings. Avianca Brasil is owned by Spsyn Participações Ltda, owned by Jose Efromovich – brother of Germán Efromovich -, 99.53% owned, and Aerovías Beta Corp.
In the interview, Efromovich said that after the conclusion of the agreement with United, he had begun to negotiate the second part of the fund's financing, which would go to Avianca, Brazil. "Some owners rushed before the release of the funding and demanded the return of the aircraft.Judicial decision and allowed the recovery of 11 aircraft Avianca Brazil had no choice but to resort to the law on judicial recovery, to prevent this from becoming a domino effect and to continue operations while negotiating the financing operation, "said Efromovich.
According to him, with the release of the second part of the financing, the liquidity problem of Avianca Brazil will be solved. "I think the situation will be examined by the end of January," he said. During the interview, the businessman also stated that Avianca Brasil continued to operate normally without obtaining the necessary funding.
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