Viva Air Announces Investment By Cartesian Capital Group

– Transaction provides USD 50 million to support growth and
internationalization of the airline

– Irelandia Aviation will remain majority shareholder of Viva Air

MEDELLÍN, Colombia–(BUSINESS WIRE)–Viva Air Group are pleased to announce an important milestone in its
further growth and expansion plans through an equity capital injection
of USD 50 million from Cartesian Capital Group into Viva Air’s
Procurement subsidiary. This innovative financing arrangement will
support Viva’s pending deliveries of Airbus A320 aircraft and the
Group’s continued growth in Colombia, Peru and beyond.

Cartesian Capital Group, a global private equity firm, has sponsored the
development of dozens of transnational companies, including airlines
such as Gol in Brazil and Flybondi in Argentina.

Irelandia Aviation, the world’s premier low-cost airline developer, will
remain majority shareholder after the investment.

“The fact that an equity firm such as Cartesian selected Viva Air Group
for investment confirms the huge progress we have made in recent years
and the growth opportunities we have developed in the region and
benefiting our growing passenger numbers year on year,” said Felix
Antelo, President and CEO of Viva Air.

Viva Air is based in Colombia and Peru and operates national and
international flights in more than 21 destinations. In 2019 the airline
will carry 7.5 million passengers. Viva Air has a strong expansion plan
supported by the order of 50 new aircraft Airbus A-320 CEO and NEO.

“We are delighted to have found a partner with the level of experience
and caliber of Cartesian Capital Group, a globally known engaged
investor, whom not only adds capital, but also brings knowledge and
experience and it is a huge vote of confidence in our company and
business,” said John Goode, Senior Partner of Irelandia Aviation.

“With a valuable orderbook of A320s and world-class management team,
Viva Air will continue Irelandia’s demonstrated track record of
democratizing air travel around the world. We are privileged to be their
partner,” noted Peter Yu, Cartesian’s Managing Partner.

BofA Merrill Lynch acted as Viva Latinamerica S.A.’s exclusive financial
advisor in connection with this transaction.

About Viva Air

Viva
Air is a pioneer group of low-cost airlines based in Colombia and
Peru, created by Irelandia Aviation, developer leader of low cost
airlines worldwide. Operates national and international flights in more
than 21 destinations and in 2019, will carry 7.5 million passengers.
Viva Air has a strong expansion plan supported by the order of 50 new
aircraft Airbus A-320 CEO and NEO.

About Cartesian Capital Group

Cartesian
Capital Group, LLC is a leading global private equity firm with a
demonstrated ability to grow companies internationally. With historic
funds comprising $3 billion in capital commitments, Cartesian’s team has
helped to build 50 companies operating across 30 different countries.

Contacts

Press Information
Catalina
Rendón Jaramillo
Director of Communications and Corporate Affairs
Viva Air
catalina.rendon@vivaair.com
Mob. +57
320 727 76 27