LATAM Airlines Colombia announces interest in initiating negotiations to acquire Viva Air Colombia
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February 14, 2023 - LATAM Airlines Colombia, an affiliate of LATAM Airlines Group S.A., expressed today its interest in initiating negotiations to acquire Viva Air Colombia (Fast Colombia SAS). In a written communication to the President of Viva Air Colombia and Castlesouth Limited, the company has informed that any transaction is subject to a financial analysis (which would be carried out expeditiously), an agreement between the parties, and the corresponding regulatory approvals.
The Colombian affiliate of LATAM group is prepared and has the capacity to strengthen its operations in the country. As such, a potential acquisition of Viva Air Colombia becomes a growth opportunity, offering Colombian consumers the best value proposition in the local market in terms of service, and the country new alternatives to strengthen its connectivity and development of tourism.
LATAM Airlines Colombia has been operating in the Colombian market for 11 years, and throughout its history it has had a continued interest in investing in the Colombian market. For this reason, we consider that this potential acquisition would be the best option to strengthen the conditions of the free market, as well as offer the necessary support to respond to the financial situation of Viva Air Colombia and its creditors, ultimately resulting in the strengthening of the Colombian airline industry.
According to data published by Aerocivil, as of December 2022, Viva Air Colombia has a fleet of 19 Airbus A320 family aircraft and transported 8.1 million passengers to, from and within Colombia.