Irelandia Aviation has taken control of VivaColombia (Medellín José Maria Córdova) after it successfully increased its shareholding from 25% to 75%.
An investment vehicle for the Ryan family of Ryanair (FR, Dublin International) fame, Irelandia Aviation acquired the respective 25% stakes of Colombian firms Grupo Bolívar and Grupo Fast last week. Co-partner and Mexican bus firm, IAMSA, has retained its 25% stake.
Colombian law allows for majority foreign ownership of locally-flagged carriers.
As such, following the change, VivaColombia's co-founders Juan Emilio Posada and Gabriel Migowski resigned. Posada, who was also CEO, has since been replaced by William Shaw.
VivaColombia operates ten A320-200s on regular flights throughout Colombia as well as to Panama, Peru, Ecuador, the United States, and Mexico.
