Abra Group, the parent company of Avianca and Brazilian low-cost carrier GOL, announced, on May 9, 2024, that is has acquired an equity stake in Spanish charter and ACMI operator Wamos Air.
The deal has been referred to as “strategic” by Abra Group, although no specific details have been made public about the amount and equity stake involved. In a note posted on Abra Group’s investors portal, Abra Group confirmed that it intends to preserve Wamos Air as a distinct entity.
The Spanish airline will continue to operate under its own brand and with the same management team, although it is expected that it will deepen its collaboration with Avianca. Wamos Air has already operated with regularity some services for Avianca, such as the routes between Bogotá (BOG) to Los Angeles (LAX) and Madrid-Barajas (MAD) to San Salvador (SAL).
Constantino de Oliveira Junior, Chairman of London-listed Abra Group, hinted at the possibility of launching new long-haul services after the acquisition, which is still subject to regulatory approval, is completed.
Madrid-based Wamos Air operates a fleet composed of six Airbus A330-300 and five A330-200 aircraft.
This investment takes place at a time when future structure of the market between Latin America and the Iberian Peninsula is in question, due to the ongoing acquisition process of Air Europa by Iberia, as well as the impending sale of TAP Air Portugal to one of the major international airline groups.