Abra Group

GOL has failed to start the process of considering its Chapter 11 exit financing proposals, after previously stating the evaluations would start in early June.

Abra Group, the holding company for airlines Avianca and GOL, has acquired a strategic shareholding in Spanish wet-lease and charter provider Wamos Air.

Brazil’s largest airlines work their way through consolidation, restructurings.

The airlines hope the proposed steps will allay Aerocivil’s competition concerns.

Aerocivil has found the combined entity would have a monopoly on 16 routes within Colombia.

The carrier will begin international flights from Bucaramanga, Pereira and Santa Marta, as well as expanding its overseas network from Cartagena.

The move gives Avianca passengers access to seven Bolivian cites.

The consolidated business will have a network spanning almost 300 routes and be similar in size to LATAM Airlines Group.