MercoPress. South Atlantic News Agency

Flybondi has new major stockholders

The low-cost airline needs to bounce back from its poor public image following numerous delays and cancellations

A US-based international investment fund has bought a stake in Argentine budget carrier Flybondi, becoming now the company's main stockholder. COC Global Enterprise seeks to strengthen Flybondi's positioning amid plummeting public perception following numerous delays and cancellations. The new co-owners also hope to add new aircraft and expand the company's route network.

Owned by Leonardo Scatturice, COC Global will lead Flybondi's Board of Directors, assuming the positions of Chairman and Vice Chairman while the Cartesian Capital Group fund, until now the main shareholder, will continue to participate in the Board of Directors as a long-term partner.

“COC Global's commitment to the principles of innovation and sustainability, and its experience in the sector, make this appointment excellent news for our company and for the entire commercial aviation ecosystem,” said Flybondi's CEO, Mauricio Sana.

“We have great plans for this new stage. It is an opportunity to continue transforming the airline industry, focusing on consolidating the service and our value proposition. We want the freedom to fly to continue connecting the country,” he added.

COC Global is engaged in over 50 companies in the technology industry. It also has a charter flight company providing executive flights across three continents with a jointly-owned fleet of 17 aircraft. Its main operation centers are Opa Locka Airport in Florida and Teterboro Executive in New Jersey, also known as the busiest private aviation airport in the United States.

Flybondi was founded in 2016 and began operations on January 26, 2018. It transported more than 15 million passengers. In addition to domestic flights, it also serves international destinations in Brazil.