ALC, a full value-chain aircraft solutions provider for global airlines, entered into a purchase and leaseback agreement with PDP financing as a bundled package solution with the Latin America low cost carrier group Viva Air, for five Airbus A320-200ceo series aircraft. The aircraft are scheduled for delivery between 2018 and 2019. The transaction marks CALC’s foray into Viva Air’s markets of Colombia and Peru, and another important move in deepening its presence in Latin America with partnering with Viva Air.

Mr. Mike POON, Chief Executive Officer of CALC, said, “We are glad to initiate our partnership with Viva Air and are pleased to support Viva Air’s fleet and route expansion plans. In recent years, the aviation market in the Latin America has flourished due to the increase in travel and tourism. Further expansion into this market is part of the wider push of our globalization initiative. This transaction also underscores CALC’s capability to provide its airline clients with flexible aircraft solutions, which is one of our keys strengths to enhance customer satisfaction. We look forward to building a stronger relationship with Viva Air to fuel its future growth.”

William Shaw, CEO and Founder of VivaColombia, part of Viva Air, said, “We are delighted to begin this new and exciting partnership with CALC and we look forward to working with CALC as we continue expanding our model throughout Latin America. This new partnership reflects Viva’s ambition and the commitment we have with our customers and we are sure that with the arrival of these new aircraft to our fleet in 2018 we will be able to continue offering even lower fares.”

Viva Air is a Panamanian headquartered group, created by Irelandia Aviation, the world’s premier low-cost airline developer, led by Declan Ryan and his team, one of the founders of Ryanair. Irelandia has successfully developed 6 LCC’s around the world, namely Ryanair, Allegiant, Tigerair, Viva Aerobus, VivaColombia and Viva Air Peru, which combined have a fleet of over 420 aircraft and have carried more than 1 billion passengers to date.

According to statista, more than 185 million people traveled within the Latin America region in 2016 and the market is expected to see a six percent growth in the next 20 years.