Flybondi completes $75 million investment round

Flybondi completes $75 million investment round

Argentinian low-cost airline Flybondi has raised $75 million in capital, sourced from a number of aviation investors.

Investors include Cartesian Capital Group, Yamasa Cod, Michael Cawley (former Ryanair COO) and Michael Powell (former CFO at Wizz Air Holdings). Cawley and Powell are both directors on Flybondi’s board.

Flybondi is looking to transport 10 million passengers by 2022 and to double air traffic in Argentina.

Julian Cook, CEO of Flybondi said: “We are very pleased to have such a strong group of investors in Flybondi. They all have a successful track record of investing in and leading, low-cost airlines. This brings us huge value-add in addition to the capital. We now look forward to giving millions of Argentines the freedom to fly by giving them access to the lowest fares in the market”.

The low cost carrier was founded in 2016 and has signed lease agreements for two Boeing 737-800s, expecting to operate a 10 aircraft fleet by the end of 2018. It is set to establish a base of operations in the Province of Córdoba and begin operating in the fourth quarter.

Alex Baldwin
By Alex Baldwin July 27, 2017 12:03