Grupo Abra has agreed to take control of Sky Airline, bolstering its footprint in Chile and Peru. CEO Adrián Neuhauser emphasized that the deal will allow Sky to compete on equal footing with rivals like LATAM and JetSmart. The process needs regulatory approvals that may last up to a year.
One month ago, Grupo Abra announced an agreement to acquire control of Sky Airline, the Chilean carrier owned by the Paulmann Mast family. The deal stems from a US$70 million bond issued by Sky in September 2021, which Abra converted into shares initially representing 41% of the capital. Through negotiations, Abra will take full control of Sky, while the Paulmann family gains a stake in the multinational holding that includes Avianca, Gol, and Wamos Air.
Adrián Neuhauser, Abra's Chilean CEO, called the absorption a key milestone for 2025 at a press conference on Avianca's plans. "When they see our map, they realize there's still a blank space in Chile and Peru that we want to fill; we believe Sky is a great partner," he stated. Abra, present in Colombia, Ecuador, and Central America via Avianca and in Brazil via Gol, aims to expand in South America.
The transaction requires approval from the National Economic Prosecutor's Office (FNE). "We're starting a process that will probably take most of a year," Neuhauser explained, noting documentation was filed over a month ago. This integration will strengthen Sky against competitors: LATAM is backed by Delta Air Lines and Qatar Airways (10% each), while JetSmart is owned by Indigo Partners, owners of Frontier Airlines.
Neuhauser highlighted consumer benefits: "We believe it's a very healthy thing that will provide a better product... more connectivity for Sky's customers." Abra has no immediate further acquisition plans but remains open to opportunities. Meanwhile, Avianca, which emerged from Chapter 11 restructuring four years ago, will invest US$800 million in 246 new aircraft by 2031 and offer business class on all flights from January 15.
