Report : United Continental, Delta Among Possible Bidders For Avianca

(RTTNews) - United Continental Holdings Inc. (UAL) and Delta Air Lines Inc. (DAL) are among suitors considering bids for Avianca Holdings SA, the Wall Street Journal reported citing people familiar with the matter.

Advisers to Avianca have distributed a document to potential bidders seeking a $500 million capital injection, the report said, adding that could develop into a full sale. The process is in early stages, and there may be no deal at all.

Avianca, one of the largest airline companies in Latin America, is based in Panama and owns carriers including its Colombian namesake and Tampa Cargo SA in that country, and AeroGal in Ecuador.