CarVal Investors has invested USD150m in distressed debt for Viva Aerobus, a Mexico’s low-cost airline.
(Viva Aerobus) Viva Aerobus, Mexico’s ultra-low-cost-airline, announced today, as part of its growth and expansion plan, the closing of a 5-year funding in the amount of USD $150 million from the global alternative investment fund CarVal Investors; this financing will help Viva Aerobus accomplish its long-term vision, increase its market presence, and strengthen its business model.
“This funding from CarVal Investors shows the confidence in Viva Aerobus’ ultra low-cost business model and the feasibility of our expansion plans. With this milestone, we underpin our strategy to grow our fleet, routes and operations for the following years fulfilling our mission of being Always Safe, Always Reliable and Always Low Fares,” mentioned Juan Carlos Zuazua, CEO of Viva Aerobus. “Undoubtedly, CarVal’s trust in Viva Aerobus strengthens us, even more, as one of the most solid, resilient and competitive low-cost airlines in Mexico and worldwide,” he added.
“Viva Aerobus maintains its attractiveness to international investors and keeps diversifying its financing sources as part of its sustainable growth strategy. With an enhanced cash position, and commitment to offer the most competitive and reliable ultra-low-cost alternative, Viva Aerobus will continue to be the best alternative to fly to even more destinations,” mentioned José Golffier, CFO of Viva Aerobus.
“CarVal Investors is excited to help Viva Aerobus continue its mission to offer an affordable, reliable and safe, air travel to all Mexicans. CarVal has 26 years’ experience investing in aviation and we have invested over USD$3.2 billion to this date. This experience combined with our deep footprint in emerging markets and track record for structuring innovative financial solutions allowed us to complete this landmark financing. We believe this is the beginning of a terrific partnership with Viva Aerobus,” said Lucas Detor, Managing Principal of CarVal Investors.
About Viva Aerobus
Viva Aerobus is Mexico’s ultra-low-cost airline. It started operations in 2006 and today it operates one of the youngest Latin American fleets with 45 aircraft: 40 Airbus A320 and 5 Airbus A321. With a clear vision to give all people the opportunity to fly, Viva Aerobus democratized the airline industry with the lowest fares in Mexico and the lowest costs in Latin America. For more information please visit: www.vivaaerobus.com/en
About CarVal Investors
CarVal Investors is an established global alternative investment fund. Founded in 1987 in the United States of America, CarVal has invested across more than 80 countries and today has approximately USD$10 billion in assets under management.