Airline group Avianca Holdings has plugged the plug on a takeover of low-cost carrier Viva Air.
It says it is unbale to meet conditions imposed by the civil aviation authority.
Avianca was required to commit to air routes and fares.
“Unfortunately, this long process puts Viva at imminent risk of disappearing,” Avianca CEO Adrian Neuhauser said.
The Colombia regulator wanted Viva to continue as an affordable low-cost carrier.
Avianca said the strict plan ‘risks the stability of Avianca.’
Now that the integration is dead, ‘Viva does not have the capacity to continue operating,’ Avianca said.
