In a surprise move, Viva Air parent Irelandia Aviation, has announced a “thank you gift” of 2% of shares to Viva Air employees as a reward for what it calls the significant milestones it has achieved in the airline’s 8-year history. The award of an ownership stake in the enterprise is unusual in Colombia, and contingent upon a successful IPO, which Irelandia expects to take place “in the medium term.”

Irelandia Aviation is a pioneer in the Low Cost Carrier (LCC) segment and is also the developer of Allegiant Airways in the US, Ryanair in Europe, Tiger Airways in Asia, and VivaAerobus in México. VivaAerobus is a separate legal and operational entity from Viva Air.

“The majority shareholders of the group are aware of the effort and dedication that each of our collaborators puts to improve the competitiveness of the airline and the airline industry in Latin America, so they decided that the best way to reward them is by giving them a Viva Air part to each one of them. We want our people to be part of our success,” said Felix Antelo (above photo), CEO & president of the Viva Air Group.

The stock grant is a pledge by Irelandia Aviation and does not convey ownership or equity unless and until an IPO is successfully executed and certain criteria at the discretion of Irelandia Aviation and Viva Air are met.

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About the Author

Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.