Bogota, October 30, 2017. As part of its growth and income diversification strategy, Avianca Holdings S.A. announced the acquisition of 90% of SAI, Servicios Aeroportuarios Integrados. The transaction was completed after the conditions provided in the Framework Investment Agreement entered into between both companies last October 17 were met.
Thanks to this investment, Avianca Holdings will now have its own specialized airport ground services company, attaining an 18.5% market share for these types of services in Colombia.
SAI is a Colombian company with more than 30 years’ experience in the national airport market, with presence at the airport terminals in Bogota, Cali, Medellin, Cartagena and the Eje Cafetero. Their portfolio of services includes the operation of the chain of processes required on the ground, from service at passenger modules to dispatching of aircraft.
Concerning this investment, Avianca Holdings’ Executive President and CEO, Hernán Rincón, said: “The acquisition of Servicios Aeroportuarios Integrados, SAI, constitutes a key step for Avianca’s strategic development plan. The inclusion of this new business unit, dedicated to an essential duty to guarantee passenger air transportation quality, will allow us to optimize ground service for the Airline and for third-party companies, while we diversify the holding’s income”.