INSUBCONTINENT EXCLUSIVE:
COC Global Enterprise, an investment fund based in the United States, recently bought a big share of the company.This move comes after
Flybondi faced months of serious problems, including many delayed and canceled flights
Flybondi started flying in 2018 and quickly became popular for its cheap tickets on local and some international routes.The airline runs 13
Boeing 737-800 planes, but two are not in use because of maintenance issues
(Photo Internet reproduction)In one week alone, Flybondi canceled 154 flights, affecting thousands of passengers
There were also not enough pilots and cabin crew, which made things worse.Financial reports show that Flybondi made a profit of $43.2
million before taxes in the first half of 2024
But this did not make up for earlier losses: $101.8 million in 2023 and $19.2 million in 2022.The airline owes $127 million as of June 2024
Because of these problems, Flybondi put its plans to list on the NASDAQ stock exchange on hold
COC Global Enterprise, led by Leonardo Scatturice, has experience running private flights and airport services in the United States.The
The previous main owner, Cartesian Capital Group, will stay involved as a smaller partner.Flybondi employs about 1,525 people
The new owners say they want to keep these jobs safe
country with economic problems and strict rules
The future of the airline depends on whether the new owners can fix its operations and finances while facing tough competition.
