Avianca

Avianca Among Favorite Suitors Of TAP Portugal -Report

AviancaTaca Holding (PFAVTBA.

BO), the South American airline controlled by German Efromovich, is among the favorite candidates for a likely takeover of Portuguese airline TAP, Exame magazine reported Thursday.TAP is reluctant to sell to Spain's Iberia, which has already expressed interest in the company, Exame said, citing people it didn't name familiar with talks.TAP prefers a company with Brazilian links because many of its flights are to or from Brazil, Exame said. Avianca is preferred over rivals such as TAM (TAMM4.BR)-- which is merging with Chile's LAN (LFL)-- because TAM operates many of the same routes as TAP, Exame said. Gol Linhas Aereas Inteligentes (GOLL4.BR) was also approached, but it is facing financial difficulties and wasn't interested, Exame said.Avianca is also preferred because it is part of Star Alliance, of which TAP is already a member, Exame said.Azul Linhas Aereas Brasileiras, which has about 10% of the Brazilian market, was also approached, but isn't currently...

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