COC Global Takes Lead Stake to Revive Flybondi Growth
Flybondi, Argentina’s pioneering ultra-low-cost carrier, has entered a new chapter after Miami-based investment fund COC Global Enterprise assumed the role of lead shareholder and took control of the airline’s board. The move signals a strategic push to stabilize operations and reignite growth following a turbulent year that eroded market share and left aircraft grounded. COC Global, which specializes in aviation and technology investments across Latin and North America, will now occupy both chairman and vice-chairman positions, while existing investor Cartesian Capital Group remains on the board. COC’s immediate agenda focuses on consolidating day-to-day operations, upgrading customer service, shoring up financials and gradually rebuilding network capacity. The fund has pledged to preserve the jobs of Flybondi’s 1,525 employees, add more aircraft to the fleet and widen the route map once reliability returns.
Flybondi currently flies 13 Boeing 737-800s but has two additional units parked for maintenance, a situation that prompted the carrier to lease two Airbus A320s over the recent northern-winter season—its first foray away from the 737 family—to plug capacity gaps. Those gaps emerged after flight cancellations spiked in late 2024, triggering a government-ordered corrective plan when 20 percent of scheduled services were axed in November alone. Chronic spare-parts shortages and delayed heavy checks kept several jets out of service, dragging Flybondi’s domestic share from 25.8 percent in June 2024 to 19.4 percent one year later, according to OAG. Monthly seat capacity slipped to 288,000, down from 343,000. The airline now ranks third in Argentina’s domestic market behind flag-carrier Aerolíneas Argentinas at 56.7 percent and rival ULCC JetSmart, which nearly doubled its share to 23.9 percent during the same period.
COC Global’s entry is designed to reverse that slide. The fund operates charter flights and airport infrastructure in the United States, including ramp, hangar and FBO services at Florida’s Opa-locka Executive Airport with Jet Aviation, as well as facilities at New Jersey’s Teterboro Airport. Executives say this background will help optimize maintenance planning, supply-chain sourcing and operational oversight for Flybondi’s 737-800 fleet. The carrier plans to reactivate its two grounded aircraft and is evaluating additional leases to reach a short-term goal of 18 active jets. Restored capacity will support 29 domestic routes and three international links while enabling the start of seasonal Córdoba-Florianópolis and Córdoba-Rio de Janeiro services in December. Management is also eyeing new regional destinations in Chile, Paraguay and Uruguay once performance metrics stabilize.
Demand data offer encouragement. Sabre figures show origin-and-destination traffic between Canada and Turkey grew 12 percent last year, underlining latent appetite for cost-effective service options—trends Flybondi hopes to mirror within South America as macroeconomic headwinds ease. Chief executive Mauricio Sana called COC’s investment “an opportunity to continue transforming the airline industry, focusing on consolidating our service and our value proposition.” Analysts note that fresh capital and governance could help Flybondi rebuild confidence among suppliers, regulators and passengers, and position the brand for renewed expansion once reliability—and its reputation—are restored. Financial details of the transaction were not disclosed, but COC Global says it expects to complete a comprehensive turnaround “within a reasonable period of time,” reaffirming its commitment to a lean cost base and a robust low-fare offering in Argentina’s competitive aviation landscape.
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