Avianca close to decision on US stock offering

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Latin American airline group Avianca will decide in the next two weeks on a potential listing of the carrier's stock on the New York stock exchange (NYSE), its chairman Roberto Kriete tells Flightglobal.

Colombia's finance regulator said last week that the Star Alliance carrier is considering filing a public offering of American depositary shares on the NYSE and is in the process of securing approvals, and will inform the market once it does so.

"We are considering it," says Kriete, speaking to Flightglobal on the sidelines of the Wings Club luncheon in New York City. "We are very close to making a final decision in the next two weeks."

Kriete says the airline is studying market conditions before it makes a final decision, which will be two to three weeks before it embarks on a roadshow to promote the offering.

Avianca is currently listed on the Colombian stock exchange but has indicated it has ambitions to grow further. LATAM Airlines Group, the other major airline in Latin America, is already listed on the NYSE.

For its second quarter, Avianca posted an operating profit of $35.3 million, with operating revenue of $1.1 billion.