Colombia's aviation regulator formally approves Avianca, Viva Air merger

Colombia's civil aviation authority has formally approved a merger between Avianca, the Andean country's flag carrier, and Viva Air, the regulator said in a statement on Wednesday. The merger is a lifeline for embattled Viva, which has struggled financially in the wake of the coronavirus pandemic and seen its situation worsen due to higher fuel prices in 2022 and the depreciation of Colombia's peso. The aviation authority has "confirmed the conditional approval of the integration operation," it said. The merger suffered repeated delays, with the civil aviation authority objecting to the deal last November, before annulling and reopening the process in January after citing procedural irregularities. Amid the limbo, Viva Air abruptly suspended operations in late February, leaving passengers stranded in airports across the country. The regulator conditionally approved the merger last month, under conditions Viva Air reimburse passengers affected by canceled flights and keep its low-cost model. Those conditions remain in force, it added on Wednesday.<br/>