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China's HNA Group eyes South American airline groups Avianca

China's HNA Group has expressed interest in acquiring Avianca Holdings SA and Avianca Brasil, the South American airlines controlled by Bolivian-born entrepreneur Germán Efromovich's Synergy Group, Reuters reported quoting people familiar with the matter. Avianca Holdings and Avianca Brasil are working with investment banks to explore options. They have also attracted interest from U.S. peers United Continental Holdings Inc and Delta Air Lines Inc, according to the media report. The growing foreign interest in Avianca shows that even as Latin America's largest economy reels from its worst recession since the 1930s, airlines see the broader region as a growth area and one their route networks must embrace. Depressed asset values there make this a tempting moment for acquisitions.


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