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 07.20.15

Airborne 07.21.15

Airborne 07.22.15

Airborne 07.23.15

Airborne 07.24.15

Airborne Hi-Def On YouTube

Airborne 07.20.15

Airborne 07.21.15

Airborne 07.22.15

Airborne 07.23.15

Airborne 07.24.15

EAA/ANN AirVenture Innovation Preview

AIP-#1 Vimeo

AIP-#2 Vimeo

AIP-Part 1 YouTube

AIP-Part 2 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 At OSH15 Day 5 Redux: Inhofe's Mission, NextGen GA Fund, New Kitfox

Also: Cicare 8, Switchblade Update, Beringer Alaskan Bush Gear, Jack Pelton Interview - Final E-I-C Note: Regularly Daily Airborne Unlimited Programming will resume this Monday now>[...]

ANN's Daily Aero-Linx (08.01.15)

The BD-5 Web Site The official home of the BD-5 network, the purpose of this web site is to provide information about the Bede Aircraft BD-5, an experimental, homebuilt, single-sea>[...]

ANN's Daily Aero-Term (08.01.15): Notice To Airmen (NOTAM)

A notice containing information (not known sufficiently in advance to publicize by other means) concerning the establishment, condition, or change in any component (facility, servi>[...]

Aero-News: Quote Of The Day (08.01.15)

"The fairing separation is one of our very first critical events. If it doesn't work as planned, it's probable the mission cannot continue." Source: Mike Hawes, Lockheed Martin Ori>[...]

ANN FAQ: Aero-Twitters Offer Instant Alerts For Breaking News

Say Hello To Aero-Twitter! Twitter is designed to work on a mobile phone as well as on a computer (and can be accessed via your IM clients). All Twitter messages (called "Tweets", >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC