Viva Completes Final Phase Acquisition | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 08.22.16

Airborne 08.23.16

Airborne 08.24.16

Airborne 08.18.16

Airborne 08.19.16

Airborne Hi-Def On YouTube

Airborne 08.22.16

Airborne 08.23.16

Airborne 08.24.16

Airborne 08.18.16

Airborne 08.19.16

Tweet Us The Coolest Things You See @OSH16!
#OSH16Coolest!

It's Alive!: AirVenture 2016 Innovation Preview on Vimeo!

It's Alive!: AirVenture 2016 Innovation Preview on YouTube!

Mon, Feb 14, 2005

Viva Completes Final Phase Acquisition

Airline Operations to Commence

Viva International says it has executed an acquisition agreement with Cool Tours dba San Juan Aviation), a Part 135 air carrier in San Juan, Puerto Rico, through Eastern Caribbean Airlines Corporation, a newly formed Puerto Rican subsidiary of Viva International.

Established in 2001, Cool Tours operates twin-engine turbo-prop charters throughout the Caribbean. For the past four years, the company has created a strong presence in Puerto Rico and other nearby island nations due to its operations. The company is now positioned to accommodate additional larger turbo-props and other corporate jets on its airline operating certificate, subject to the applicable approvals from the FAA and DOT. Recently, the company received approval to use a two-letter identifier air carrier code (JI) by the International Airline Transportation Association (IATA).

Under the terms of the agreement, Eastern Caribbean Air, Inc. will purchase Cool Tours, Inc. Viva has agreed to retire existing debt of Cool Tours and to provide the initial working capital through Eastern Caribbean. In addition, Viva plans to arrange for additional aviation equipment to be added to allow for expansion of the existing operations. The company will immediately operate certain charter tours for Viva Air Dominicana, S.A. and expeditiously begin the certification process of additional Saab 340As for addition to the existing airline operating certificate.

"This is a significant agreement inasmuch as it allows for immediate public charter operations and for an ability to enhance scheduled service for Viva Dominicana, S.A. In our opinion, this relationship allows for a possible diversification of our aviation business to also profit from the booming fractional private/corporate aircraft ownership and charter market, commented Pier Bjorklund, a Viva consultant."

"Our business has grown tremendously; however, we needed a partner such as VIVA to capitalize on the existing opportunities, said Ivan Figueroa, president of Cool Tours. We are excited about this relationship and agreement and the impact we expect it will have on our Puerto Rico and Caribbean operations."

FMI: www.caribbean-on-line.com/airlines

Advertisement

More News

Airborne 08.23.16: Santa Monica Fights On, ISS Readies, ICAO Flight Plans

Also: ANN Is Hiring!, Aero-Calendar, UAV v Helo, AIA Briefs Clinton, First LM-100J, Teamsters, Smalltrack A resolution has been considered by the Santa Monica City Council would ma>[...]

Airborne 08.22.16: Small Drone Rule, Lightspeed Tango, Paper Chart Prices

Also: CommutAir, Norseman Takeoff, Asteroid Sample, A-4 Accident, RS-25 Test, ANA's 50th 787, Banyan Repair Station We have been covering the news about FAR 107, which addresses no>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2016-16-15 PRODUCT: certain Bombardier, Inc. Model DHC-8-400, -401, and -402 airplanes.>[...]

AD: Airbus Airplanes

AD NUMBER: 2016-16-14 PRODUCT: All Airbus Model A318, A319, A320, and A321 series airplanes.>[...]

ANN's Daily Aero-Linx (08.24.16)

Cavanaugh Flight Museum The Cavanaugh Flight Museum opened in October 1993, the brainchild of its founder, entrepreneur Jim Cavanaugh. Cavanaugh placed his growing collection of hi>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC