United Continental Holdings Inc. said it is prepared to lend money to Avianca Holdings SA, part of a deal that would sideline the Colombian air carrier’s biggest shareholder and could help solidify the U.S. carrier’s presence in a fast-growing region for air travel. Chicago-based United’s commitment to Avianca under a just-recast board of directors—after the carrier’s biggest investor defaulted on a $456 million loan from United itself—sent the Colombian carrier’s American depository-receipt shares soaring more than 30%.

Source: Wall Street Journal May 24, 2019 22:35 UTC