DALLAS — Spain's securities regulator has ruled in favor of the proposed acquisition of Wamos Air (EB) by the Abra Group. The deal includes a €130 million (US$141 million) investment from the Latin American airline group.

Wamos Air, a Spanish supplier of wet leasing and air charter services (ACMI), will receive funding from the holding firm of Latin American airlines Avianca (AV) and GOL Linhas Aéreas (G3), according to a statement made on May 9, 2024.

The investment marks a strategic expansion for Abra Group to enhance its reach in long-haul international markets with wide-body aircraft.

The tie up is expected to improve connection between Europe and Latin America and the parties assert that Wamos' business model complements Abra's vision and goals. The merger will also help Abra achieve its goal of expanding its services outside of its current Colombian base and strengthening its worldwide footprint.

Comments from Abra Group CEO

Back in May, the CEO of Abra Group, Adrian Neuhauser, expressed excitement about the acquisition and outlined three main advantages. First off, Wamos Air is a desirable partner because to its standing and extensive global presence in the ACMI and charter markets.

Second, there are major synergies between its operational model and Abra's ambition of dominating the Latin American air transport business.

The financial details of the sale and the precise amount that Abra Group purchased are not publicly available; however, non-European ownership of airlines flying the EU flag at a rate greater than 50% is prohibited under EU laws.