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United Airlines takes over controls of the cockpit at Avianca

Monday, May 27, 2019

United Airlines launched a management overhaul at Colombia’s Avianca Holdings on Friday, removing top shareholder German Efromovich from controlling the cash-strapped airline.

United, which is proposing a three-way joint business agreement with Avianca and Panama’s Copa, said the move follows a default by Efromovich’s holding company BRW Aviation on a $456 million loan it made six months ago, Reuters reports.