Elliott Management Is the Mystery Lender Behind Colombian Airline Pledge

Updated on
  • Avianca filing said controller pledged stock to third parties
  • Bulk of Efromovich family stake in carrier used to back loans

In late April, deep in a 165-page regulatory filing, Avianca Holdings SA inserted this enigmatic mention: The Colombian airline’s controlling shareholder had pledged the majority of its stake to unidentified lenders.

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