Love Maharashtra? Then you wil love Marathikatta!
Home Politics Religion Media Biz Society Tech Travel Books Intl. Autos Automobiles
                    Movies   Aviation   Pharma   About Us   Feedback   Links

Avianca to buy 10 Boeing Dreamliners


March 31, 2007: Dreamliners have become a fad and more airline companies are queuing up to own one. The latest in the line is Avianca, Colombia's largest airline. Avianca is owned and operated by the Synergy Group.

The Colombian major plans to spend $1.5 billion to purchase at least 10 Boeing 787 Dreamliners to replace its aging aircraft. The 10 Boeing Dreamliners will replace Boeing 757 and 767 airplanes. This apart, the airline firm also plans to buy another 35 aircraft with an additional investment to the tune of $1.5 billion.

With the Dreamliner buy, Avianca will become the first company in South America to operate Boeing 787s. This will happen by year 2010. A report said Avianca will operate seven of the 10 airplanes while the three remaining will be operated by Synergy Aerospace.

The report added that Avianca has acquired the purchase rights for the planes at a time to be determined in the future. It is now in talks with both Boeing and Airbus to buy the 35 additional airplanes, it is learnt. The talks with airbus are aimed at buying an indeterminate number of jets to replace 17 old McDonald Douglas MD-83s, a report added. Avianca is expected to finance the purchase of the Boeing planes partly with cash but mainly with commercial bank loans and multilateral loans. It has been made public that international commercial banks have approached the airline and proposals from the World Bank and the Inter-American Development Bank are also being evaluated.

Significantly, Avianca was pulled out of US bankruptcy protection, back in 2004, by Brazilian company Synergy Group by the picking of a 75 per cent stake after agreeing to inject $63 million of fresh capital and assuming nearly $220 million of debt. Synergy had then bought the remaining 25% of Avianca in November 2005.


More related stories from Aviation




Auto news for auto freaks!
DWS community! / Cricket blog


Latest Stories in Aviation


Etihad Airways flights for Kerala

Jet Airways to don new look

Destination Doha for Air India Express

US, EU in Open Skies deal

Safety last among Indonesian airlines

Kingfisher Airlines partners with Toyota F1 racing

Condor skips Frankfurt flight this summer

Etihad Airways sees zoom in revenue

Continental elated at EU-US open skies deal

India, UAE sign MoU for increasing air traffic

Flights from London to Larnaca, Cyprus


Latest Stories in Aviation



Latest updates    Contact Us - Feedback    About Us   Complete Flights Archive