Expansion in Central and South America for Viva Airline Brand

Grupo Viva is being established as a multinational airline holding company based in Panama City, Panama. The new company will be responsible for the further development of the Viva airline brand beyond current operations in Mexico and Colombia, maximizing cost synergies and operational efficiencies across the group and centralizing key management functions.

Grupo Viva is chaired by Roberto Alcántara Rojas, also Chairman of the Board of VivaAerobus and Grupo IAMSA. Irelandia Aviation Managing Partner Declan Ryan will be a principal investor.

Tony Davis, currently Partner and COO of Irelandia Aviation, has been appointed CEO. In addition to working with Irelandia Aviation for the past three years, Tony has an extensive track record in establishing low-cost airlines around the world, and he has been closely involved in the recent development of VivaAerobus and VivaColombia. Tony will be responsible for the creation of the Group's corporate structure and management infrastructure over the next 12 months.

Joe Mohan, who is joining from his position as Senior VP Commercial at COPA Airlines, has been appointed President and COO. Joe has worked in Central and South America for more than 10 years and led the commercial function in one of the region's most successful airline groups, consistently achieving impressive growth and profitability results. He also brings direct experience of helping lead a high-performing Latin American company listed on the New York Stock Exchange. Joe will be responsible for the expansion of the group's regional coverage and improving cost synergies and operational efficiencies for airlines in the group.

Commenting on the appointments, Declan Ryan said, "We are delighted that two executives of the caliber of Tony and Joe have agreed to lead the creation and development of our new low-cost airline group in Latin America. We are convinced that there are tremendous opportunities for our ultra-low-cost airline model to expand in the region. With our existing airlines already well-established in Mexico and Colombia, together with our order last year for 52 new Airbus A320 aircraft, this is the right time to establish Grupo Viva."

About Grupo IAMSA

Grupo IAMSA is Mexico's leading company in the bus transportation market. Its modern, 11,000-bus fleet provides travel to more than 350 million passengers each year. It operates in 22 Mexican states, covering 83.4% of the population. It comprises Grupo Flecha Amarilla and Grupo Toluca. Some of its well-known brands are ETN, Omnibus de México, TAP and Primera PLUS. Grupo IAMSA employs more than 24,000 people.

About Irelandia Aviation

Irelandia Aviation is the world's premier low cost carrier (LCC) developer, which shapes the LCC opportunity, invests behind it and works intensively with management, partners and investors to make it a success. Through the Ryan family, it pioneered the LCC model in Europe and is now replicating its model around the world. It has developed five LCCs so far: Ryanair in Europe, Tiger Airways in Asia, Allegiant in the USA, VivaAerobus in Mexico and VivaColombia in Colombia. It is actively involved in identifying opportunities to create new airlines or re-engineer airlines and welcomes interest from parties that would like to collaborate