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Delta, United and Copa offer to partner troubled Avianca airline

Hedge fund that holds Avianca stake as collateral, is helping to broker deal

Despite its recent troubles, Avianca, second in Latin America only to the Chile-based Latam Airlines, is an attractive asset.

New York

TROUBLE was brewing this summer at Avianca Holdings, Latin America's second-biggest airline.

Tight on cash, the airline needed to raise money. For many on the board, one option was selling part of the company.

The company's largest investor - a swashbuckling,

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