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German EfromovichBrazilian-Colombian entrepreneur originally from Bolivia
Country:
 Brazil |
Content:
- Biography of German Efremovich
- Early Life
- Entrepreneurship and Success
- Entry into Aviation
- Recognition and Personal Life
Biography of German Efremovich
German Efremovich, a Brazilian-Colombian entrepreneur born in Bolivia, has transformed from a resourceful businessman into a true oil billionaire and owner of an aviation empire. He acquired the Colombian national airline, Avianca, for $64 million, assuming a debt of $220 million.
Early Life
German Efremovich was born in 1948 in Bolivia to a family of Polish Jews. After World War II, his parents decided to leave Poland and move to South America. They initially settled in Bolivia and later moved to Chile, where German grew up. In 1955, he lived in Arica, and from 1964 onwards, he resided in Sao Paulo, Brazil.
Entrepreneurship and Success
After completing school, Efremovich pursued various careers and held different jobs in Brazil, including selling encyclopedias owned by a school in Sao Bernardo do Campo. Over time, he evolved into a successful oil billionaire and the owner of an aviation empire.
Efremovich acquired the Colombian national airline, Avianca, for $64 million, assuming a debt of $220 million and leasing obligations in 2004. His other ventures include power plants, shipyards, and pharmaceutical companies. He significantly contributed to the expansion of the Brazilian state oil company, Petrobras, and its oil platform rental program.
Entry into Aviation
Efremovich's entry into the aviation industry began with a stroke of luck when one of his clients could not pay in cash, allowing him to settle the debt with two airplanes. This marked the establishment of his company, OceanAir, which successfully engaged in passenger air transportation. Efremovich started by transporting personnel of oil companies on the Macae-Rio de Janeiro route.
When his company joined the aviation holding Avianca, which he acquired from Julio Mario Santo Domingo, it was renamed Avianca Brazil. Efremovich also owns a portion of the Brazilian industrial conglomerate Synergy Group, which offered oil operation services in Brazil in 1998. The conglomerate initiated passenger transportation for its employees from cities to oil fields and rapidly expanded its range of services for a growing customer base.
In late 2004, Efremovich purchased a controlling stake in the Avianca holding, and in 2005, Synergy Group acquired the remaining shares. In February 2010, Avianca and TACA merged to form AviancaTaca. Currently, AviancaTaca is the second-largest airline in terms of revenue in its region, second only to the Chilean-Brazilian LATAM Airlines Group.
Recognition and Personal Life
In 2005, Efremovich officially received the title of Honorary Citizen of Colombia from the Colombian government for his contributions to the economic and social development of the country. He has a younger brother named Jose, who serves as the chairman of Avianca Brazil.
