Published On: Fri, Dec 29th, 2017

Takeover InselAir by Synergy (Avianca) off the table

Avianca-InselAirWILLEMSTAD - The takeover of Inselair by Synergy Aerospace is definitely off the table. This was confirmed by the Minister of Economic Development Steven Martina in a press conference. Financial Director of InselAir, Andre Delger and the head of the negotiating committee Etienne Ys were also present at the press conference.

One of the biggest stumbling blocks was local legislation, which stipulates that the majority of the shares must remain in local hands and the company must be managed locally. Both parties agreed on a solution to the outstanding debt.

“We now have to search for new strategic partners”, said Martina. The Minister emphasized that canceling the negotiations with Avianca's parent company does not mean that Inselair is no longer viable.

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