Thursday, March 30, 2023

What does Avianca say after the testimony that it already controls Viva Air?

It was published this week, by the newspaper La República de Colombia, the reserved content from the Superintendence of Industry and Commerce (SIC) of the same country, which shows the airline The cost is small Viva Air was already controlled by Avianca.

Also read Research indicates that Viva Air is already owned by Avianca

Recalled, he advised modern companies not to grant Viva’s financial rights to purchase Viva from Avianca, while retaining the rights to Avianca. Castlesouth Presswhich is not part of Avianca.

But The SIC of the Land of Colombia highlights that there were enough economic rights to establish a business integration between both companies..

Also read Viva Air: will you pay for air tickets? This is what the CEO says

Likewise, the Superintendence of Industry and Commerce has indicated that the intervention of third parties that are not part of the Avianca group will not undermine the integration.

What Avianca answers-

Avianca reported to the newspaper Portafolio de Colombia some details, in a statement, about its business. Aliveafter SO The services of the two arcs will be taken to collect information within the scope of the investigations in the process of integration of both arcs.

“Avianca shareholders have acquired the financial rights to the airline” Alive in April 2022 the transaction was executed with full transparency. In fact, it was publicly shared and more than 200 media outlets, with a more detailed explanation of the structure in question, “in the airline states”.

Also read Mass layoffs of Viva Air employees in Colombia have been reported

He added that in this business, neither the company nor its partners have any power in the management of the Viva airline, fully complying with the business separation criteria (separating financial rights from politics).

“This transaction was made in compliance with SIC Resolution 10390 of 2015, which clearly confirms the separation of the business structure (separation of financial rights from politics) and clearly indicates that the absence of author control is the main criterion for evaluating the independence of the parties. Neither Avianca nor its partners had any influence in the management of the Viva airline, fully complying with the said criteria.“, tell me.

The company emphasizes that at all times before and after the transaction; both fought without grace, counsel, and law.

Nation World News Desk
Nation World News Desk
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