LATAM Airlines also wants to buy the Colombian airline Viva Air

LATAM Airlines Colombia, a subsidiary of the largest airline in Latin America, expressed the desire to buy the Colombian Viva Air to grow and strengthen its operations in that country, the company announced in a press release.


In a letter sent to the president of Viva Air Colombia and to Castlesouth Limited — investors in that airline — LATAM told them that it is able to carry out an operation immediately, subject to a financial analysis by Viva. “The Colombian subsidiary of the LATAM group is prepared and has the capacity to strengthen its operations in the country.


In this way, an eventual acquisition of Viva Air Colombia becomes a growth opportunity, offering Colombian consumers the best value offer in the local market in terms of service, and the country new alternatives to strengthen its connectivity and development. of tourism”, explains the document.  In addition, the largest airline in Latin America said that, if the operation is completed, it would become the “best option to strengthen the conditions of free competition, as well as offer the necessary support that will allow responding to the financial situation of Viva Air Colombia and its creditors”.


This, they concluded, would bring the benefit of strengthening the country’s airline industry.


LATAM is the latest suitor to be presented to Viva Air, which is going through a critical moment aggravated because its integration with the also Colombian Avianca is not advancing in Civil Aeronautics (Aerocivil), the regulatory entity of that country.


Avianca and Viva hope to integrate under the grounds of “company in crisis” to be able to operate under the same regional holding company, the Abra Group, which also includes the Brazilian GOL. Last week Viva accepted a Business Recovery Process to be able to renegotiate its debts while continuing to serve Colombian passengers.


The voluntary recovery process lasts 90 days and serves to restructure your debts through negotiation with your main creditors to continue operating.


Two days before joining this process, the Chilean JetSmart also announced its interest in acquiring 100% of the shares of Viva and its subsidiaries.


According to data from Aerocivil, as of December 2022, Viva Air Colombia has a fleet of 19 Airbus320 family aircraft and transported 8.1 million passengers to, from and within Colombia.