AVIANCATACA LAUNCHES $250 MILLION IPO

Columbia’s largest airline by market share, AviancaTaca, has launched an initial public offering for about $250 million. The offering represents 11.1% of the company. The proceeds will be used to help fund expansion of the airline that controls Colombian flagship airline Avianca as well as El Salvador-based carrier Grupo Taca. AviancaTaca reported an operating income of $3.1 billion in 2010 and a net profit of $50 million.