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The decision provides a remedy for passengers and travel agents, but will Viva ever fly again?

Bloomberg is reporting an Aerocivil approval based on leaked information, but both airlines say they know nothing.

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

Government inspectors took evidence from Viva & Avianca offices, while Avianca's CEO & General Counsel left the country.

Viva last night suspended aviation operations, saying that the low cost carrier has run out of resources and options while waiting on a decision by Colombian government regulators.

The battle for control of Viva goes far beyond Avianca, Jetsmart & Latam. Here are some of the key players

Avianca is offering concessions to regulators to keep its Viva acquisition alive.

A Viva acquisition by a strong competitor like Latam could be disastrous for Avianca.

The airline is not filing for bankruptcy but a form of non-judicial reorganization permitted under Colombian law during the COVID pandemic.

A Jetsmart-Viva tieup could pose a serious threat to the Abra Group strategy of consolidating the South American airline market.