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Last weekend, Arajet added routes between Medellín, Cartagena & Bogotá, Colombia to Punta Cana, Dominican Republic

This beat overall growth of 0.7% for the Spanish insurer across its operations in Latin America.

The upgrade reflects the anticipated strengthening of Cementos Argos' capital structure and enhanced financial flexibility.

"Latin America is more than just a destination for outsourcing. It is a strategic hub where innovation, talent, and customer-centric values converge."

The Dominican low-cost carrier will ramp up frequencies between Bogotá, Medellín, and Cartagena to Santo Domingo over the next two months.

Previous startup airline of the year winners include Play Airlines, Cobalt Air, and Air Seoul.

Tickets on sale now through the end of the month will have a base fare of only $7.37 USD in a nod to the carrier’s fleet of Boeing 737 Max 8 fleet of planes.

Horatio says content moderation will be a big part of the company's Colombia operations.

"We offer users the convenience of being able to reach their final destination buying everything under the umbrella of Arajet," said the low-cost Dominican airline.

With growing concerns about forced labor and deteriorating US-China relations, some companies are increasingly looking for a plan B.