Avianca

completed

_x000C_Aerovias del Continente Americano S.A. (Avianca or the company) is one of the largest airlines in Latin America and the largest in Colombia, operating from its main base at El Dorado International Airport in Bogota. The company provides scheduled services to 21 international destinations (in Europe and the Americas) and 21 domestic destinations. Avianca has five code sharing agreements with international carriers (Iberia, Mexicana, Delta, Air Canada and Taca). Avianca is planning to renew its fleet over the period 2008-2012 to reduce costs, improve efficiency and safety as well as provide better passenger service. The company has negotiated the purchase of 42 aircraft over the next 5 years (including at least 12 Boeing-787s and a number of Airbus-319/320/330s) to replace its MD-83 and Boeing-757/767 aircraft. The proposed project is to provide financing of up to $50 million to Avianca and its subsidiaries, Sociedad Aeronautica de Medellin Consolidada S.A (SAM) and Aviation Leasing Services Investment S.A. (ALS) to help finance the implementation of the company’s fleet renewal program.