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Avianca’s president, Jose Efromovich confirmed that the carrier is interested in acquiring the troubled Portuguese carrier TAP.

Avianca is currently doing its due diligence to determine how to bring TAP back to profitability and then make a decision.

The move would significantly change Avianca’s position in the Brazilian aviation sector, since TAP is the carrier with most flights between Brazil and Europe, and also a TAM Airlines code share partner, which would likely be discontinued should the deal go forward.