The Colombian Government takes control of Viva Air. Guillermo Reyes Minister of Transport indicated last week that during the weekend the path forward would be studied regarding the critical situation that was triggered by the departure of the low-cost airline.
Yesterday, the Ministry of Transport made this determination official.
The National Government of Colombia decided to take control of Viva Air after suspending its operations.
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The entity that will intervene in the airline will be the Transport Superintendency.
This entity indicates that if Viva Air does not comply with the instructions given, the Transport Superintendence will proceed to remove the administrator and legal representative.
What is asked of Viva Air is that it adopts all asset preservation measures.
This is to say, that all cash proceeds for charter flights and holiday sales must appear as liabilities.
This measure is to guarantee the return of money by Viva Air.
It is considered that these are administrative measures and must be carried out immediately to guarantee the rights of users.
These measures are also intended to not affect the service to a large extent.
If it is possible to carry out this intervention, it will be carried out through the Ministry of the competent branch.
They are implementing measures that regulate market conditions to guarantee equity and competitiveness of national production.
For his part, the Vice Minister of Transport indicated that this subject to control is not a sanction, but rather implies strong measures for Viva Air.
From the implementation of these measures, Viva Air must request prior authorization for any statutory reform.
Furthermore, it prohibits employees from establishing guarantees that fall on the company's own assets, entitlements or operations that do not correspond to the ordinary management of business without prior authorization from the superintendence.
Within this milestone, the superintendency also requested Supersociedades to admit Viva Air into a business reorganization process.
It was also reported that a decision will be made this week by Aerocivil regarding the integration request of Viva Air and Avianca.
This decision will be made after interested third parties such as Latam, Jetsmart and Wingo among others, give their considerations.
However, it remains to be seen that this integration process will begin now that the government takes control of Viva Air.
