Avianca’s jump with Abra helps it achieve record income

The UK-based Abra Group has given Avianca a significant boost, making it one of the three largest companies in Colombia. The airline’s revenues soared year-on-year to $27 billion, surpassed only by Ecopetrol and its subsidiary Reficar.

In 2022, the year in which it earned $11.4 billion, Avianca did not even manage to enter the top 10 of the largest companies in the country, ranking 11th below representatives of other sectors.

Now, with an increase of almost $16 billion in their income, they managed to surpass those three companies and all those in the country that are not called Ecopetrol ($129.5 billion) or Reficar ($32 billion), Las2orillas reports.

A recent move by Avianca’s parent company has been to ally with the Spanish company Volotea to take over the routes left by Air Europa, when the European Commission approves its purchase by Iberia. This alliance will allow them to connect with Europe and Latin America, seeking for Madrid to be their ‘hub’ with 75% connections, from the first quarter of 2025, as stated REPORTUR.us (Avianca joins forces with the Spanish Volotea before the Iberia-Air Europa union).