CORRECTION: Avianca counter sues shareholder

Eleanor Steed
By Eleanor Steed March 29, 2017 13:21

CORRECTION: Avianca counter sues shareholder

Colombian airline Avianca has filed a counter lawsuit in New York against Kingsland Holdings, which holds a 22% voting stake in the airline, for allegedly leaking boardroom secrets to obstruct the negotiations with United Airlines regarded a proposed alliance, reports the Financial Times. Kingsland was the first to file a lawsuit three weeks ago claiming the alliance with United was a “sweetheart deal” that ignored better offers from other airlines and instead seeks to “shore up [Efromovich’s] other financially strapped business concerns”.

Avianca said in a statement on March 27 that “Kingsland’s legal manoeuvres are a heavy-handed attempt to obtain greater rights in the courtroom than it previously negotiated for and agreed to in the parties’ shareholder agreement”.

Eleanor Steed
By Eleanor Steed March 29, 2017 13:21