Wednesday 22 November 2017

Ryan to float Mexican airline

Nick Webb

Nick Webb

Viva Aerobus, the fast growing Mexican airline backed by Ryanair co-founder Declan Ryan, is poised to float on Mexico's stock market shortly.

Viva Aerobus has told investors that it is seeking to list on Mexico's BMV stock market or else raise finance on the bond markets to fund its expansion. Viva Aerobus is forecast to carry over four million passengers this year.

Ryan successfully set up low-cost airlines in a number of countries and made huge profits floating them off. He made a 30-fold return on his investment in €1.2bn valued US airline Allegiant, when it listed in 2007 and another chunky profit when offloading most of his shares when Singapore's Tiger Airlines floated in 2010.

Sunday Indo Business

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