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

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.

Finance Colombia arranged a meeting with key analysts with Standard & Poor to understand how this might play out for LATAM and Avianca, the two full service carriers that operate domestic routes in Colombia.

JetSmart Airlines has begun flying routes between Santiago, Chile and both Bogotá & Cali, Colombia

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