May 10, 2019

Viva Air lands equity investment

Low-cost carrier Viva Air, which operates in Colombia and Peru, has received a $50 million investment from New York-based private equity firm Cartesian Capital Group, with proceeds targeted toward expansion plans.

The airline, owned by Dublin-based low-cost airline developer Irelandia Aviation, signed in late December 2017 a firm order for 50 A320-family aircraft.

The 15 A320 and 35 A320neo aircraft will be operated by the group’s airlines VivaColombia and Viva Air Peru.

Cartesian has previously invested in regional airlines, including Brazil’s Gol and Argentina’s Flybondi.

Irelandia Aviation will remain Viva’s majority shareholder.

Viva Air carried over 500,000 passengers between January and April 2019.