Route network update for VivaAerobus
VivaAerobus in Mexico secures $ 150 million loan from US investor
03.05.2021 – 06:21 UTC
VivaAerobus (VB, Monterrey General Mariano Escobedo) announced that “as part of its growth and expansion plans” it has signed an agreement to obtain a loan of 150 million dollars over five years from the management company of alternative investments based in Minneapolis, CarVal Investors.
The self-proclaimed ultra-low cost airline said in a statement on April 28 that the funding would help it “increase its market presence and strengthen its business model.”
With this funding, “we are supporting our strategy of growing our fleet, our routes and our operations for the years to come,” said the airline’s general manager, Juan Carlos Zuazua, adding that it “reflects the Confidence in the ultra-low-cost business model of VivaAerobus and in the viability of our expansion plans.
The announcement came on the same day that VivaAerobus presented its finances for the first quarter of 2021, showing a net loss of MXN 501 million ($ 25 million) during the period, 47% larger than its loss for the same. quarter in 2020.
The day before, April 27, VivaAerobus revealed that it would launch a new road connecting the Mexican and Colombian capitals. Flights between …