Colombia’s Avianca Group intends to merge with local low-cost carrier Viva in order to enhance the country’s airline sector, improve its financial stability, and expand its Latin American route network.
According to their statement, both airlines will maintain independent identities and business objectives. The new merger will go into effect after both carriers have received regulatory permission.
“If the authorities approve the management of both groups under the same holding company, it will encourage the growth of the air transport market, promoting low rates for users and good service with the best punctuality, allowing everyone to fly with a world of destinations,” said Declan Ryan, founding partner of Viva.
After the COVID-19 outbreak prompted carriers throughout the world to adapt to new ways of flying and reinforce their operations, the decision to unite both airlines was made.
“The pandemic has awakened countries worldwide to see the need to create solid and sustainable airline groups to guarantee and enhance domestic and international air connectivity and, at the same time, generate value for the consumer,” Avianca Group said.
