Avianca Brazil

About Avianca Brazil

Avianca Brazil, formerly Oceanair, filed for bankruptcy in December 2018. The airline was controlled by German Efromovich through his Synergy Group. Avianca Brazil was the fourth largest airline in Brazil. The airline had grown rapidly but could not sustain its cost structure. Lessors repossessed aircraft. By May 2019, Avianca Brazil had cancelled most flights. The bankruptcy affected approximately 6 million passengers who had purchased tickets. Gol Transportes Aereos acquired some of Avianca Brazils assets, including slots and the brand name. The case highlighted the difficulty of sustaining rapid growth in the airline industry. The Avianca brand has a complex history, with separate Avianca operations in Colombia and other Latin American countries continuing independently.