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"Colombia, for us, is undoubtedly one of the most important places, and we are preparing to operate domestically in 2024," said JetSmart CEO Estuardo Ortiz.

Groupe Casino's stock has fallen over 20% in value this week as the company’s debt risk — and lack of a clear plan to service its debt — creates pessimism among investors.

"There are no miracles...When someone sells a plane ticket cheaper than a bus ticket, the client must know this company may not last."

With this agreement, the airlines are going head-to-head with Delta-backed Latam and United Airlines-backed Avianca.

Efromovich taking control of Ultra would put him in the position of competing against his old airline, Avianca.

After struggling to find a buyer or investor, Colombian low-cost airline Ultra Air suspended operations just 30 days after competitor Viva was abruptly grounded. Ultra had recently admitted struggles but sought to reassure passengers that it would carry on. Less than a year ago,...

In an internal document, Ultra asks employees to be patient about their paychecks.

Finance Colombia has reached out to Ultra Air multiple times for comment but has received no response.

The merger of Jetsmart and Ultra could fill the void in the Colombian market left by Viva's collapse.

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