Multilatin - Avianca

Maria Camila Gutíerrez

Maria Paula Rodríguez

Yuli Vanessa Vanegas

Universidad de la Salle

Bogota

2017
 Situation of Avianca

The development and progress of Colombia has been related with Avianca, due to that this

airline has connected Colombian cities and at the same time the country with the world,

which has allowed the ease to access to new global markets, generate trade and

tourism. “Air transport is itself a major generator of direct jobs and economic activity, in

the operation of airlines and airports, in the maintenance of airplanes, in the control and

management of air traffic and in other activities that directly serve the passengers.” (Maya,

2009)

1919 the beginning of a history

In that year on December 5th, five Colombian (Rafael María Palacio, Jacobo A. Corea,

Cristobal Restrepo, Aristides Noguera y Ernesto Cortissoz) and three German (Alberto

Teitjen, Werner Kaemerer and Stuart Hosie) created in Barranquilla the “Sociedad

Colombo Alemana de Transportes Aéreos - SCADTA”, the second commercial airline in

the world. The first flight didn´t have passengers, it was a dispatch of 57 letters from

Barranquilla to Puerto Colombia in a Junker F-13 and it could carry 4 passengers and 2

crew.

In mid 20´s the company inaugurated international routes where their main destinations

were Venezuela and The United States and on July 13, 1939, the company established the

first airmail service between Bogotá and New York. A decade later, in 1940 Aerovías

Nacionales de Colombia S.A. – Avianca was formed, the corporate name that resulted from

the integration of SCADTA and the company Servicio Aéreo Colombiano - SACO.
In 1981, the airline opened the Aerial Bridge Terminal in Bogota, from where it served

flights to Miami, New York, Cali, Pasto and Montería. Having a private terminal was

something that no Colombian airline had in history. In 1994 Avianca signed a strategic

alliance with the two most important companies of the aeronautical sector in that time in

Colombia: SAM (Sociedad Aeronáutica de Medellín) and HELICOL (Helicopteros

Nacionales de Colombia), that gave life to the Avianca System.

Continuing its growth process, in 2002 Avianca and SAM formed with (Aerolíneas

Centrales de Colombia) the alliance Summa. These Airlines decided to join their forces to

offer a best quality service, security, efficiency, and competitive prices, nevertheless, a year

later in 2003 the alliance was undone, because of the losses that was generating. As a

consequence of this, Avianca was covered by Chapter 11 of the bankruptcies of the United

States and initiates a process that was called "Flight Plan of the Transformation " which

included the modification of some routes and administrative structure, after that, the

company was sold to a Brazilian businessman and Avianca started to be part of the Synergy

group.

In 2005 Avianca presents its new image and was registered as Aerovías del Continente

Americano S.A, highlighting the attributes of the country and the brand, showing its

commitment to the delivery of a safe, warm, punctual, and agile service. Since then

Avianca is in a process of accelerated expansion and internationalization, creating one of

biggest network of routes from Latin-American, this through the alliances and trade

agreements with airlines from other countries. In 2009 the company started its process of

internationalization, making alliances and acquisitions in other countries.

 Portfolio assessment

- Products

Avianca Holdings S.A. in addition to having common services such as Cargo, passengers

and lifemiles, also offers additional services which generate significant additional income

for the company. The direct competition of Avianca Holdings S.A. is the airline LATAM

taking into account the basic services, however, there are other companies that affect the

additional services offered by this company

Then the services will be mentioned and explained, taking into account the percentage of

profit that generates to the company and the comparison with the direct competition.

- Freight Transport:

Known for the Avianca Cargo brand, whose purpose is to load merchandise in a series of

aircraft or also in the belly of the passengers' aircraft, this product is also of great

importance investment line of Avianca Holdings, because during 2016 there was a growth

in capacity of 3% compared to 2015 in freighter aircraft. "Overall this line represents more

than 11% of Avianca Holdings S.A.'s consolidated revenues" (Avianca Holdings S.A.,

2017).
Latam is the direct competition of Avianca cargo, because it offers the service of transport

of cargo stipulating 11 different care that will be done to the merchandise when it is

transported, in turn there are 3 types of services which are accommodated to the speed and

the price of customers, where they can choose the one they prefer, which benefits LATAM

because it guarantees that customers will have several options to not go to the competition.

- Deprisa

This service offered by Avianca allows you to increase your income more, allowing growth

and expansion, handling products not only overhead but also by land. Deprisa maintained

the leadership in the national air cargo market in Colombia, registering a 44% participation

in November 2016. The kilos of national air cargo grew 4.5% at the November cut

according to figures from the Civil Aeronautics. (Avianca Holdings S.A., 2017).

❖ Box of 10 Kg of 30 * 30

$42.200 $39.800
The direct competence of Deprisa in Colombia is Servientrega, since it has 3000 points in

Colombia and in turn it is in 180 countries, while Deprisa has 1416 points between

domestic destinations and points of sale at the National level and at the international level it

manages 337 branches to solve the logistics needs of sending and receiving documents,

packages or merchandise, which shows that Deprisa has an international advantage but still

Servientrega remains the direct competition and National level.

- Lifemiles

This service becomes an incentive for people to use

the airline Avianca more frequently, because if you

accumulate miles in the trips you make, Avianca

joins Iberia and Aeromexico to redeem them and

enjoy more destinations. This service has brought

together more than 7 million people, increasing

Avianca Holdings revenues by 8.5% in 2016 compared to 2015. These miles correspond to

a percentage of the flown miles granted according to the option fare that has the flight.

LATAM Pass is the direct competition of the service

that offers Avianca (Lifemiles), because with the

service that LATAM can get kms to travel with any

airline belonging to oneworld with 1000 destinations

worldwide, this is reflected in the fares and flights

promoted by this company and the amount of kms varies depending on the distance and the

class of service in which it is traveled. (LATAM Airlines, 2017).

- Avianca Service

This product offered by Avianca specializes in the provision and commercialization of

airport services, where passenger and ramp assistance, operational dispatch, baggage and

charter and private flights are provided; training services, offering basic international cargo,

dangerous goods (DGR and health), technical training, which helps the Colombian Air

Force with maintenance and increase their income, as happened in 2016, registering sales

by $ 30.9 million USD, which meant a growth of 9% over 2015.

- Avianca Tours

Avianca Tours is the service of organization and commercialization of travel packages and

tourist services other than air transportation offered by Avianca Holdings, taking advantage

of alliances with different hotels and restaurants in each of its destinations, offers different

alternatives according to the needs of the client .

The main competitions of Avianca Tours are LANTOURS, aviatur travel and

despegar.com; taking into account the price, excels in rating Despegar.com and its prices

are quite attractive and comfortable, offers the most economical packages on the market,

continue Avianca Tours and Lantours with an equal and competitive price rating between

them and last is located Aviatours is the most expensive on the market; although the price

weighting is lower than that of quality is still very important for the decision-making of

customers.

Market entry strategy

Avianca has had an efficient growth process and evolution, currently the company has 106

destinations in 26 countries and about 6000 weekly flights, this has been achieved with

strategies to ally with international and national companies that have allowed enter to the

global market, improving the quality of the services, and increasing their operations.
The first alliances that Avianca made, was with airlines from Colombia and started to

provide postal services with Avianca Cargo, with this strategy was possible to acquire new

aircraft and increase the destinations, not only at the national level; when Sam, ACES and

Avianca decided to create Suma, they achieved to connect 25 Colombian cities and 20

international destinations been in this case a merge process because they negotiated that

each airline could maintain their identity but under a single organization.

The starting point of the internationalization was marked by the acquisition that German

Efromovich did when Avianca was affected financially; on the other hand, Avianca

develops alliances with other airlines members of the Sinergy group, such as Ocean Air

(Brazil) 85, VIP (Ecuador) and Tampa (Colombia), the latter becomes the property of

Avianca to consolidate the freight operations. Trough Tampa acquisition, was easier the

strategy alliance between Avianca and Martinair, a European freight line with them

headquarter in Amsterdam of which Tampa Cargo is a subsidiary in Colombia.

The Avianca and TACA merger, which was the market entry strategy to El Salvador and in

consequence, the destinations that the company had. It was the biggest step taken by

Avianca in its internationalization process when merging with an airline foreign, in this

case one of the most important in Central America. TACA was founded in Tegucigalpa,

Honduras in 1931 but then, they stablished their maintenance station in El Salvador, The

TACA Group included TACA International Airlines and its participation in Lacsa, Taca

Peru, Aviateca, Sansa, La Costeña, and Islaña and Avianca also included Avianca and

Tampa Cargo; for these fusion, the name of AviancaTaca Holding S.A. turned in Avianca

Holdings S.A.
Through this negotiation both groups create a new holding company to reach a joint

operation of both airlines. There, German Efromovich and the other Avianca partners will

have 66% of the shares and the Taca group 33%. (Cruz, A & Puerta, S. 2012) Finally there

is another fusion in 2010 with Aerogal to entry in Ecuadorian market, Avianca bought the

100% of the ecuadorian airline shares, improving their operation in more than 100

destinations in America and Europe.

Avianca works in the following countries

 Alliances of Avianca

1.

1.1 Air Allies

Within the company are developed two classifications of air allies

Shared Code:

It allows to reach other destinations from other airlines thanks to codeshare partnerships.

This is the expansion of the route network through flights operated by partner airlines and

marketed by Avianca. Thanks to these agreements passengers have the option to reach 102

destinations operated by the airlines with which Avianca supports these types of alliances,

in addition to the destinations that the airline flies from the hubs in Colombia, El Salvador

and Peru.

These are the regions and allied airlines in which Avianca has a Code-Sharing Agreement

North America

Air Canada Airline

The alliance between Avianca and Air Canada allows the commercialization of flights to

and from Canada. To the following cities:

• Calgary • Edmonton

• Halifax • Montreal

• Ottawa • Quebec

• Regina • Saint Johns

• Saskatoon • Vancouver

• Winnipeg
 U.S

United Airlines

The alliance between Avianca and United Airlines allows to market flights to and

from the United States. To the following cities

• Boston • Kona • San Diego

Charlotttes • Minneapolis • Santa Barbara

• Cleveland • Norfolk • Syracuse

• Dayton • Phoenix • Buffalo

• Detroit • Portland, ME • Cincinnati

• Fresno • Raleigh Durham • Columbus

• Harrisburg • Richmond • Denver

• Honolulu • Rochester • Fargo

• Kansas City

• Monterrey • Roanoke
• Greensboro/High
• Philadelphia • Sacramento
Point
• Pittsburgh • San Luis Obispo
• Hartford
• Portland, OR • Seattle
• Indianapolis
• Reno • Tampa
• Kauai Island

• Las Vegas

Silver Airways Airline

 The alliance between Avianca and Silver Airways allows the commercialization of the

Avianca code from Colombia to Florida, United States with connection in Fort Lauderdale

and Orlando.

• Orlando

• Key West

• Pensacola

• Tampa

• Tallahassee

Aeromexico Airlines

The alliance between Avianca and Aeroméxico allows to market flights to and from

Mexico.

Cities

• Hermosillo • Puerto Vallarta

• Acapulco
• Leon • Tijuana
• Chihuahua
• Mérida • Veracruz
• Guadalajara
• Monterrey • Villahermosa

Interlinear Agreement

It is the provision of air transport services between 2 or more airlines worldwide. Thanks to

these agreements, the breadth of the network of routes to more destinations is achieved.

With our interline agreements, you can fly connecting to other airlines by choosing the

route and schedule that suits you best.

 Allied airlines member of the Star Alliance network.

• Adria Airways • Avianca Brazil • SAS Scandinavian

• Aegean Airlines • Brussels Airlines • Airlines

• Air Canada • Copa Airlines • Shenzhen Airlines

• Air China • Croatia Airlines • Singapore Airlines

• Air India • Egyptair • South African Airways

• Air New Zealand • Ethiopian Airlines • Swiss

• All Nippon Airways • Eva Air • TAP Portugal

• Asiana Airlines • LOT Polish Airlines • Thai Airways

• Austrian Airlines • Lufthansa • Turkish Airlines

• United Airline

Alliances that do no part

• Aeroflot • Cathay Pacific

• Aerolíneas Argentinas • Cayman Airways

• Etihad
• Aeromar
• China Airlines • Hawaiian Airlines
• Aeromexico
• China Southern • Iberia
• Air Berlin
• Cubana de Aviación • Japan Airlines
• Air Europa
• Delta • Jet Blue
• Air France
• Dragon Air
• Alaska Airlines • KLM
• El Al Israel
• Alitalia • Korean Air
• Emirates
• British Airways • Luxair

• Malaysia Airlines
• Philippine Airlines • Silver Airways • VRG Linhas Aereas S.A-

• Qantas • Surinam Airways GOL

• Qatar Airways • TAME Ecuador

1.2 Earthly Allies

Alsa

In accordance to the agreement of Alsa with Avianca gives the option to combine flights

with interurban bus routes in Spain paying a single rate from the origin to the final

destination. This way the connection options in this region with flights to and from Madrid

and / or Barcelona are extended. (Avianca, 2017)

Great Western / Heathrow Express

Great Western Railway is a train company with wide coverage within Great Britain and

Heathrow Express is an express train service between London Heathrow Airport and

Paddington Railway Station in central London. This alliance with Avianca is intermodal

(between different modes of transport) that allows to connect air routes with trains in train.

(Avianca, 2017)

National Express

In accordance to the agreement with National Express, there is the option to combine

flights with intercity bus routes in the UK. Paying a single rate from the origin to the final

destination. In such a way the options of connection in this region extend with flights to and

from London. (Avianca, 2017)

Renfe

Renfe is a train company with wide coverage within Spain. Avianca and Renfe manage an

intermodal alliance that allows connecting aerial and training routes. (Avianca, 2017)

1.3 STAR ALLIANCE

Star Alliance was founded in 1997 by five airlines, Continental Airlines today (United

Airlines), Lufthansa, Air Canada, Thai Airways International and Scandinavian Airlines

System. Currently it is made up of 57 airlines that operate 4,244 airplanes that perform

21,050 daily flights to 1,167 airports, with 980 VIP lounges, in 186 countries around the

world; number of employees: 483,337, Passengers transported annually: 636.97 million.

(Mateos, 2017)

Each airline maintains its own style, profile and cultural identity, transmitting the richness

of diversity and multiculturalism to the alliance. In this way, each airline shares a common

dedication to the highest and strict standards of quality and service to the passenger.

Avianca is part of the most important global airline alliance in terms of flights, destinations,

countries and the number of member airlines, users will have access to 180 countries. On

June 21, 2012 Avianca and Copa Airlines entered the alliance. (Portafiolio, 2012)

Star Alliance, the world's largest network of travel agents, with comprehensive recognition

and service to the international traveler, has numerous awards such as the Air Transport

World Market Leadership Award and the Best Airline Alliance Air Alliance) by Business
Traveler and Skytrax magazines. (Avianca, 2017)

Members of the Star Alliance Alliance

Avianca, (2017) Aerolíneas miembro de Star Alliance.

Competitors of Avianca

2.

2.1 National Airlines

Avianca, like other Colombian airlines, stands out for promoting the variety of flights,

destinations and tariffs, services satisfying the needs of the users.

EASYFLY

(Air Services and Integral Logistic Facilitation): the leading airline in the regional flight

segment. Founded by Alfonso Avila Velandia, one of the pioneers of aviation in Colombia

Operates in Colombia since October 10, 2007 on intermediate city routes, it is the first

airline of its kind in the country.

It stands out as one of the airlines 100% Colombian and has managed to stay in front of the

great competition and even being one of the youngest airlines within the airline industry,

with a low cost management.

EasyFly, which has become the leading company in the regional aviation market in

these seven years, offering non-traditional routes; that is, those that do not cover the

other airlines. This is one of the reasons why it has shown significant growth over

the last decade. (Money, 2016)

Currently the company travel to and from Valledupar, Arauca, Yopal, Quibdó, Apartadó,

Montería, Bogotá, Medellín, Barranquilla and Cartagena. It is the only airline that offers

flights between Cúcuta and Arauca or Valledupar and Barranquilla. Today, there are 3,100

monthly flights to 19 destinations on 24 routes, which has allowed them to take over 44%

of the regional market.

 COPA AIRLINES

Copa was established in 1947 by a group of Panamanian investors and Pan American

World Airways (PanAm), which provided capital and technical assistance. In 1980 he

retired from the domestic market and entered the international market. Copa Airlines

Colombia is a Colombian commercial airline founded in 1992 under the name of Aero

República S.A. and that from the year 2010 uses its current name and logo, and will

maintain the leadership in tourist destinations towards the main regions of Colombia.

At present its route map has 69 destinations in 20 countries in North America, Central,

South America and the Caribbean, in Colombia it operates with 8 national routes

Barranquilla, Bogota, Cali, Bucaramanga, Cartagena, Medellin, San Andres Island and

Pereira. (Airlines, 2016)

ADA

Antioquia Airline(ADA) is one of the most important regional airlines of Colombia. Its

center of operations is Olaya Herrera Airport in the city of Medellín, where it operates

domestic routes in Antioquia and in neighboring departments. It was established in 1987

for the charter service. In 2002 it began to operate regular flights from Medellín. (Ada,

2017)

It currently operates to 14 destinations in Colombia, both regional and national, such as

• Acandí • Barranquilla • Quibdó

• Apartado • Corozal • Tolú

• Armenia • El Bagre • Medellin

• Caucásia • Montería • Bahía Solano

• Cartagena • Pereira
 AVIANCA

The principal Colombian Airline was founded on December 5, 1919 under the Colombian

Society of Air Transport, SCADTA. In 1920 SCADTA made the first flight between

Barranquilla and Puerto Colombia. After the Second World War, German shareholders sold

the company to the American company Pan America. Germán Efromovich, a Brazilian

businessman, bought 75 percent of Avianca's shares for $ 64 million, as announced on

March 18, 2004. On November 10, 2005, the airline now has 151 aircraft, flies to 100

destinations in 25 countries in America and Europe and has 678 daily flights. (Avianca,

2017)

In Colombia it operates to 25 national destinations in the following cities: Armenia,

Barrancabermeja, Bogotá, Bucaramanga, Cali, Cartagena, Cúcuta, Florence, Ibagué,

Leticia, Manizales, Medellin, Monteria, Neiva, Pasto, Pereira, Popayan, Riohacha, San

Andrés, Santa Marta, Tumaco, Villavicencio, Yopal.

VIVA COLOMBIA

It is a low cost airline commercial Colombia. Founded on September 16, 2009 under the

name of Fast Colombia SAS, it began operations on May 25, 2012. Its operations center is

located at the José María Córdova International Airport in Rionegro, which provides

service to Medellín for the same year, beginning operations with a flight between the José
María Córdoba International Airport in Rionegro and the El Dorado International Airport in

the city of Bogotá. Currently we have a fleet of 14 aircraft, Airbus A320 of last generation

with capacity for 180 people to 11 national and international destinations. (Colombia)

Within the national destinations we find Barranquilla, Bogotá, Bucaramanga, Cali,

Cartagena, Medellin, Monteria, Pereira, San Andrés, Santa Marta, and in the international

destinations Lima, Miami, Pacifico Panama.

SATENA

Air Service to National Territories is a state-owned commercial airline that was founded on

April 12, 1962. It covers national and regional routes from El Dorado International Airport

in Bogotá, DC, Olaya Herrera Airport in Medellín and Alfonso Bonilla International

Airport Aragon of Santiago de Cali. It is also the Colombian airline that covers the largest

number of destinations in the country (Colombian, 2011)

La Chorrera, La Pedrera, Leticia, Tarapacá, Apartado, Medellín, Arauca, Savena, Tame,

Barranquilla, Cartagena, Ararauca, Mompox, Florence, San Vicente del Caguan, Bahia

Solano, Condoto, Quibdó, Bogotá, Puerto Inírida, San José del Guaviare, Pitalito, Maicao,

Puerto Bolívar, San Andrés, Island of Providencia, La Macarena, Villavicencio, Ipiales,

San Juan de Pasto, Puerto Asís, Puerto Leguizamo, Armenia, Corozal, Tolú, Buenaventura,

Cali, Mitú, Puerto Carreño, La Havana, Kingston, Monte Bay.

National Market: Within the Colombian National market, a statistical analysis is carried

out by the Colombian Civil Aeronautics, which can reflect an increase in domestic travel by

passengers (domestic market), with an increase of 4.5% and in which can be highlighted the

participation of Avianca with 58.3% in the accumulated of September of 2014 in front of

the other Colombian airlines. And which are explained in the following table.
According to the account the figures of the graph, the percentage of 3 airlines at the

Colombian national market, dominating 82% of the total market, Avianca with 55%, LAN

Colombia with 18% and Fast Colombia with 9%.

2.2 International Airlines

Spirit Airlines

Spirit Airlines is a low-cost American airline operating regular flights in America. In 1992,

as Charter One changed its name to Spirit Airlines, it incorporated jet planes into the fleet

and thereafter began offering regular passenger service to destinations such as Fort
Lauderdale, Detroit, Myrtle Beach, Los Angeles and New York. In 2008, it successfully

integrated into the Colombian commercial air system (Pinson, 2011)

Spirit Airlines currently flies to 61 destinations throughout Central America, the Caribbean,

South America, and the United States.

Deutsche Lufthansa is an airline of German origin,

created in 1926, considered one of the largest in Europe. Arrived to Colombia on April 4,

1967 from Frankfurt (Germany). Member of StarAlliance since April 20, 2012

Lufthansa offers connections to 1,167 locations in about 181 countries. (Time, 2010)

AeroMexico

Airline founded the 14 of September of 1934 with the name of (Airplanes of Mexico thanks

to Antonio Díaz Lombardo in the city of Mexico. It offers flights inside Mexico like

international flights.

Aeromexico and its subsidiaries operate a total of more than 500 daily flights with 70

destinations on four continents and a fleet of 103 aircraft in total. Travel to all America and

the Caribbean, Europe and Asia. Its base of operations is in the International Airport of

Mexico City. In 2000 he joined the SkyTeam alliance. It manages to join the Colombian

commercial air system in 1962 (Alvarez, 2017)

 American Airlines

It is an American airline founded in 1930 as American Airways based in Fort Worth,

Texas. It operates scheduled flights on an extensive network of national and international

routes in North America, the Caribbean, South America, Europe and Asia. American

Airlines, along with the American eagle network, provide 6,700 daily flights to 350

destinations in 50 countries. Founding member of the oneworld alliance. (Airlines A.)

LAN Chilean airline was founded in 1929, state-

owned company to provide air transportation services for passengers, cargo and mail. After

operating for 60 years as a state-owned company, in 1989 the State of Chile sold 51% of its

share capital to national investors and to Scandinavian Airlines System (SAS), thus

beginning its privatization process. In 2000, LAN joined oneworld (TM), an alliance

among leading airlines worldwide. Currently called LATAM, which is the merger of LAN

and Brazilian airlines, TAM has a fleet of 330 aircraft and 138 domestic and international

destinations . (AIRLINES, 2017) International Market: there was an increase in operations

of n 12% in the accumulated from January to September 2014, and Avianca with a leading

participation of 31.07%.

International Market: there was an increase in operations of n 12% in the accumulated

from January to September 2014, and Avianca with a leading participation of 31.07%.
In the case of the Colombian international market, the presence of 3 airlines dominates the

Avianca market with 35%, Copa Airlines Colombia (14%) and Aerogal with 7%

consolidated in 56% with more than half the market . In relation to the other airlines like

Lan Colombia, Copa Airlines, there is a very similar framework to Avianca but not

achieving the level of efficiency since its revenues are below the airline in study.

INTERNATIONAL PRESENCE
Subsidiaries

Avianca has the following subsidiaries at international level:

International Destinations:

Avianca flies to international destinations, as indicated below.

1. Aruba 16. Miami

2. Barcelona 17. New York

3. Buenos Aires 18. Orlando

4. Cancun 19. Punta Cana

5. Guatemala City 20. Quito

6. Mexico City 21. Rio de Janeiro

7. Panama City 22. San José, Costa Rica

8. Curacao 23. San Juan de Puerto

9. Fort Lauderdale Rico

10. Guayaquil 24. San Salvador

11. Havana 25. Santiago de Chile

12. La Paz 26. Santo Domingo

13. Lima 27. Sao Paulo

14. London 28. Washington

15. Madrid
Maria Camila Gutiérrez
Maria Paula Rodríguez 64151034
Yuli Vanessa Vanegas 64151049

References

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http://www.avianca.com/co/es/nuestra-compania/servicios/avianca-services
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Taken from:
https://www.superfinanciera.gov.co/reportes/?LO=00000001a6b7c8d900000003000
0000400088f674c39aaab000000000001ffff00000000000000000000000000000000
000000000000000000000000000000000000000000000000&type=application/pdf
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http://www.avianca.com/co/es/informacion-viaje/otros-servicios/lifemiles.html
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http://repository.urosario.edu.co/bitstream/handle/10336/2865/1020727380-
2012.pdf?sequence=4
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http://www.deprisa.com/CalculadoraCosto

http://sismilenio.servientrega.com/Cotizador_Portal/FrmCotizadorDef.aspx

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https://www.latam.com/es_co/transparencia/anexo-contrato-transporte-
complementario-para-colombia/
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negocio de Avianca Tours - Aviancataca S.A. Taken from:
http://repository.ean.edu.co/bitstream/handle/10882/1987/OchoaDavid2012.pdf?seq
uence=1
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http://sismilenio.servientrega.com/Cotizador_Portal/FrmCotizadorDef.aspx

• El Tiempo 7 de Octubre de 2010 “Lufthansa aterriza en Colombia”. Taken from

http://www.eltiempo.com/archivo/documento/MAM-4175661
Maria Camila Gutiérrez
Maria Paula Rodríguez 64151034
Yuli Vanessa Vanegas 64151049

• El Tiempo 1 de Mayo de 1997 “LUFTHANSA, 30 AÑOS EN COLOMBIA”.

Taken from http://www.eltiempo.com/archivo/documento/MAM-533421
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Colombia Informe final de Fedesarrollo a Fontur” Taken from
https://docs.wixstatic.com/ugd/7dcce2_f6030873acfe45b7a94504ca5a6568e3.pdf
• Valderrama, C. VALORACION DE EMPRESAS AVIANCA HOLDINGS S.A.
(Colombia) Noviembre de 2015. Taken from
http://repositorio.uchile.cl/bitstream/handle/2250/138681/Valderrama%20Carrasco
%20Cristian.pdf?sequence=2
• Avianca, (2017) “Aerolíneas miembro de Star Alliance”. Taken from
http://www.staralliance.com/es/member-airlines
• Dinero, 21 de enero de 2016. “Easyfly, dueña del 44% del mercado regional” Taken
from http://www.dinero.com/edicion-impresa/negocios/articulo/aerolinea-
easyfly/218327
• Instituto politécnico Nacional, ed No 39, febrero de 2017”Alianzas Aereas
globales” Taken from
http://www.uteycv.esiaz.ipn.mx/eBoletin/pdf/eboletin_39.pdf
• Portafolio, 22 de junio de 2012 “Star Alliance tendrá 164 destinos mas con Avianca
y Copa” Taken from http://www.portafolio.co/negocios/empresas/star-alliance-
tendra-164-destinos-avianca-copa-110076
• Copa Airlines (2016) Taken from https://www.copaair.com/es/web/pa/nuestra-
historia
• Ada(2017) Taken from https://www.ada-aero.com/nuestra-empresa/rese%C3%B1a-
historica
• Viva Colombia. Taken from
https://www.vivacolombia.co/co/vivacolombia/conocenos
• Aviación Colombiana 24 de noviembre de 2011 “Historia de Satena” Taken from
http://aviacolombia.blogspot.com.co/2011/11/historia-de-satena.html
• Prinson, M. Enero de 2011 “Historia de Spirit Airlines” Taken from
https://www.spirit.com/Content/Documents/es-
PR/Spirit%20Airlines%20History.pdf
• Aeronáutica Civil Colombiana 26 de Diciembre de 2016 “Boletín operacional”
Taken from http://www.aerocivil.gov.co/atencion/estadisticas-de-las-actividades-
aeronauticas/boletines-operacionales
• American Airlines. Taken from https://www.aa.com/i18n/customer-service/about-
us/american-airlines-group.jsp?locale=es_MX
Maria Camila Gutiérrez
Maria Paula Rodríguez 64151034
Yuli Vanessa Vanegas 64151049

• Domingo, A. (2017) AeroMexico. Taken from

https://world.aeromexico.com/es/conocenos/acerca-de-aeromexico/historia-
flota/?site=mx
• LATAM(2017)”Acerca de Lan”. Taken from
http://www.lan.com/es_co/sitio_empresas/nolog/volar_en_lan/acerca_de_lan/histori
a.html