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Colombia’s Viva Air changes CEO as it battles financial woes
Colombia’s Viva Air changes CEO as it battles financial woes By Reuters
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Stock Markets 4 hours ago (Feb 23, 2023 07:31PM ET)
(C) Reuters. FILE PHOTO: An Airbus A320-200 plane of Colombian airline Viva Air is seen at El Dorado airport in Bogota, Colombia May 8, 2019. Picture taken May 8, 2019. REUTERS/Luisa Gonzalez/File Photo
BOGOTA (Reuters) – Colombian low-cost carrier Viva Air said on Thursday it has appointed Francisco Lalinde as interim president and chief executive as the company faces financial challenges and a local debt restructuring process.
Lalinde will replace Felix Antelo, who resigned citing health problems, the company said.
The replacement in leadership comes as the company struggles with a debt restructuring process brought on by the impact of the COVID-19 pandemic and the rise in fuel prices during 2022, as well as the sharp devaluation of the Colombian peso.
On Tuesday the carrier announced it was taking five of its Airbus A320 planes out of service, citing the financial costs of keeping them in the air, while it awaits a decision on a potential alliance with Avianca.
“In my new role, I will continue to do what Felix has done on our behalf for the last five years: maintain open communication with our team and make sure we give it our all for Viva,” Lalinde said in a statement.
Lalinde had been serving as the company’s operations vice-president.
Viva and Colombia’s flagship airline, Avianca, have restarted a merger process after repeated delays, including regulator objections and what the aviation governing body said were procedural irregularities.
Ultra-low-cost airline JetSMART and LATAM have also expressed interest in taking over Viva.
Viva, which emerged as a low-cost airline with operations in Colombia and Peru, continues to operate a fleet of 16 planes.
Colombia’s Viva Air changes CEO as it battles financial woes
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