Abra Group Eyes Aerolineas Expansion Amid Growth Plans
The holding company behind Brazilian LCC GOL and Colombian airline Avianca is setting its sights on further expansion, with Aerolíneas Argentinas emerging as a potential new addition to its portfolio. Formed in May 2022, Abra Group was created when the shareholders of Avianca and GOL agreed to merge their airlines under one unified holding company. This strategic consolidation is designed to streamline operations, drive efficiency, and foster growth across the group’s network of carriers.
Abra Group was founded by industry veterans Constantino de Oliveira Junior—former CEO at GOL—and Adrian Neuhauser, former CEO of Avianca. Under their leadership, the group is not only focused on nurturing its existing airlines but also on exploring opportunities to grow and diversify its portfolio. Currently, in addition to GOL and Avianca, the group owns Spanish wet-lease operator Wamos Air, a specialist in all-Airbus A330 operations. In January 2025, Abra further expanded its collaborative network by signing a non-binding memorandum of understanding with Brazilian carrier Azul.
Speaking at the Routes America 2025 conference in Nassau, Bahamas, on February 11, Abra Group’s Chief Commercial Officer, Joe Mohan, outlined the group’s growth strategy. A former executive at Continental Airlines and Copa Airlines, Mohan drew comparisons between Abra’s model and that of International Airlines Group (IAG), the parent of British Airways and several European carriers. “IAG’s model—maintaining the unique brands, cultures, and executive teams of its airlines while benefiting from collective scale—is something we admire and aspire to emulate,” Mohan noted.
Mohan acknowledged that while each of the current airlines under Abra’s umbrella is performing well independently, achieving greater scale would help the group address regulatory challenges and improve overall efficiency. “We are collectively running good airlines, yet one [Avianca] has been through Chapter 11 and another [GOL] is emerging from Chapter 11,” he said. “Scale can be part of the solution and gives you a little more room to deal with some of the regulatory issues, but it has to be done on a regional basis.”
When discussing potential consolidation opportunities, Mohan expressed particular interest in Aerolíneas Argentinas. “We would want to be first in line when that happens,” he commented, suggesting that the Argentinian carrier could be a great fit for Abra’s growing portfolio. Although details remain under discussion, Aerolíneas Argentinas appears to be a strong candidate for future consolidation, aligning with the group’s mission to integrate and streamline operations across South America.
For now, Abra Group is focused on coordinating the networks of its current airlines—ensuring seamless service while cleaning up the balance sheets of its South American carriers. GOL, for instance, is expected to emerge from U.S. Chapter 11 bankruptcy protection this spring, a crucial step in stabilizing its operations and paving the way for future growth.
Reflecting on the group’s strategy, Mohan stated, “GOL was launched 20 years ago and brought the ultra-low-cost carrier (ULCC) role to Brazil, stimulating the market. Avianca, on the other hand, pivoted from a full-service model to a low-cost approach after emerging from Chapter 11. It’s in our DNA to make sure we are the lowest cost carrier in our markets.”
As Abra Group continues to refine its business model and pursue strategic growth opportunities, its focus on maintaining the distinct identities of its airlines while leveraging collective strength positions it well for future success. The potential addition of Aerolíneas Argentinas would mark a significant expansion, further solidifying Abra Group’s role as a major player in the South American aviation market.
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