Major unrest in Colombian aviation continues, with no end in sight
Colombia's aviation market has endured constant upheaval during the first three months of 2023, ranging from the ultra-low cost operator Viva Air suspending operations, to JetSMART abandoning plans to purchase Ultra Air just days after expressing an interest in acquiring Colombia's second ultra-low cost carrier.
JetSMART has decided to forge its own path in Colombia, and Ultra Air has encountered its own challenges in the market.
And now, nearly a year after tabling plans to buy Viva, Avianca has gained conditional approval for the transaction. But Viva's value is now somewhat diminished since it ceased operations, and Avianca has to factor that into its calculus going forward.
The market volatility in Colombia appears to be continuing for the short term and as a result, predicting the ultimate composition of the country's aviation market remains up for conjecture.
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