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 09.26.16

Airborne 09.27.16

Airborne 09.28.16

Airborne 09.29.16

Airborne 09.30.16

Airborne Hi-Def On YouTube

Airborne 09.26.16

Airborne 09.27.16

Airborne 09.28.16

Airborne 09.29.16

Airborne 09.30.16

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 09.28.16: NEW DJI Mavic!, EAA's Next STC, Sean Tucker Honored

Also: LA Times v SMO, APS UAT Program, Gordon Bennett 2016, Tucson Control Tower, Hubble Find, Southwest Airlines, Iowa State Another new small unmanned aerial system is now on the>[...]

AeroSports Update: Sean Tucker Is Honored By The CAF

Aerobatic Pilot Sean Tucker Receives The 2016 Lloyd P. Nolen Lifetime Achievement In Aviation Award Aerobatic pilot Sean D. Tucker has been named the recipient of the Lloyd P. Nole>[...]

Elon Musk Outlines Vision For Martian City

Rockets Carrying As Many As 200 People Could Leave For The Neighboring Planet In 'Decades' No one can deny that Elon Musk thinks big, and in a speech at the International Astronaut>[...]

Dutch Investigators Release Findings In MH17 Shootdown

Determines That The Missile 'Came From Russia' The Buk missile that destroyed Malaysia Airlines Flight MH17 over eastern Ukraine in 2014 came from Russia, according to a Dutch-led >[...]

ForeFlight, SiriusXM Introduce Satellite Aviation Weather Service

Weather And Other Key Information Available Using The SXAR1 Portable Receiver Today ForeFlight and SiriusXM introduced SiriusXM Aviation weather service on the newest version of Fo>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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