Avianca seeks capital injection

It has been reported by the Wall Street Journal that United Continental and Delta Air Lines are considering bids for Avianca. Avianca is seeking a capital injection of $500 millon in return for equity, which could result in the full sale of the company, according to sources quoted by the WSJ. The group also runs a loyalty program, a logistics business, airport and maintenance services and runs tours. It sold a 30% stake in the loyalty business to a private-equity investor last year. Avianca named Hernán Rincón Lema, a Microsoft Corp. executive in Latin America, as its new chief executive