Avianca snaps up Tampa Cargo

TAMPA Cargo, will be sold by its shareholders Martinair and private Colombian investors to Colombian carrier Avianca.
In Bogota, Colombia the parties reached a principle agreement on the sale of 100 per cent of the shares. The transaction is expected to be finalised in June 2008.
Furthermore Martinair, Tampa Cargo and Avianca are working on the details to reach an agreement on the formation of a long term strategic cargo alliance to jointly develop the cargo business.
“This new alliance opens up tremendous opportunities for Martinair and its new alliance partners by expanding our network and capacity throughout the Americas,” said Paul Gregorowitsch, chief executive officer for Martinair.
In this alliance the current cooperation between Martinair and Tampa Cargo with joint sales offices throughout the Americas, will continue.
The alliance permits the inclusion of Avianca’s belly cargo capacity on its domestic and international network. Through the alliance the three airlines offer one of the largest cargo networks in the Americas.
The parties will carefully consider the competition law aspects of the envisaged Alliance Agreement and will seek any governmental approval required from the authorities regarding competition law.