Avianca Adds to Airline Equity Pipeline

Avianca-Taca is considering an equity follow-on, according to people familiar with the plan. Citi, JPMorgan, Bank of America Merrill Lynch and UBS are heard mandated for the transaction. If it moves forward, the Colombian would join other airlines planning to raise funds in the equity markets. Latam Airlines is preparing a follow-on, Mexico’s Volaris has filed for an IPO including an SEC-registered tranche, and Brazil’s Azul has also registered for an IPO. Both are also expected to try to price before the end of the year, if market conditions permit. An investor relations official at Avianca declines to comment, nothing that nothing official has been announced.