As of December 31, 2020, BRW Aviation owned more than ** percent of the shares of Avianca Holdings S.A., which made it the main shareholder of the company that year. Avianca is Colombia's flag carrier and it operates in several countries throughout Latin America, the Caribbean, as well as in North America and Europe.
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Avianca. (April 29, 2021). Main shareholders of Avianca Holdings S.A. in 2020, by participation [Graph]. In ÀÖ²¥´«Ã½app×îа汾. Retrieved August 19, 2026, from /statistics/1093276/avianca-holdings-shareholders/
Avianca. "Main shareholders of Avianca Holdings S.A. in 2020, by participation." Chart. April 29, 2021. ÀÖ²¥´«Ã½app×îа汾. Accessed August 19, 2026. /statistics/1093276/avianca-holdings-shareholders/
Avianca. (2021). Main shareholders of Avianca Holdings S.A. in 2020, by participation. ÀÖ²¥´«Ã½app×îа汾. ÀÖ²¥´«Ã½app×îа汾 Inc.. Accessed: August 19, 2026. /statistics/1093276/avianca-holdings-shareholders/
Avianca. "Main Shareholders of Avianca Holdings S.A. in 2020, by Participation." ÀÖ²¥´«Ã½app×îа汾, ÀÖ²¥´«Ã½app×îа汾 Inc., 29 Apr 2021, /statistics/1093276/avianca-holdings-shareholders/
Avianca, Main shareholders of Avianca Holdings S.A. in 2020, by participation ÀÖ²¥´«Ã½app×îа汾, /statistics/1093276/avianca-holdings-shareholders/ (last visited August 19, 2026)
Main shareholders of Avianca Holdings S.A. in 2020, by participation [Graph], Avianca, April 29, 2021. [Online]. Available: /statistics/1093276/avianca-holdings-shareholders/