This is great news for Panama where we can now fly on a low cost airline.  While I love Copa, their prices are high.  Of course that is what makes them the most profitable airline in the world.

Owners of VivaColombia and the mexican VivaAerobus have announced the opening of a holding company in Panama to start operations in Central and South America.

From a statement issued by Irelandia Aviation and Grupo IAMSA:

Irelandia Aviation and Grupo IAMSA, owners of the Mexican low-cost airline VivaAerobus and of the Colombian airline, VivaColombia, announced their intention to expand the Viva airline brand in Central and South America.

Grupo Viva is being established in Panama City as an airline holding company of the multinational. The new company will be responsible for the future development of the Viva airline brand beyond its current operations in Mexico and Colombia, maximizing cost synergies and operating efficiency across the group, in addition to the centralization of key management functions.

Grupo Viva is chaired by Roberto Alcántara Rojas, also Chairman of the Board of VivaAerobus and Grupo IAMSA. The partner and director of Irelandia Aviation, Declan Ryan will be a lead investor.