Colombia's largest airline, Aerovias Nacionales de Colombia SA, or Avianca, has started discussions with El Salvador airline Grupo TACA to create a "strategic alliance," Avianca's chief executive said.
"Avianca and its shareholders are carrying out conversations with Grupo TACA with the aim of sealing a strategic alliance that would allow synergies and improve the position in the markets the companies serve," Fabio Villegas said in a filing to the Colombian financial regulator late Monday.
He didn't give any details on whether that alliance would include a takeover or a merger and he wasn't immediately available for comment.
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