COC's bet on Flybondi aligns with its strategy of investing in companies with growth potential
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The airline Flybondi began a new phase following the entry of COC Global Enterprise, a U.S. fund specializing in private aviation and technology, which became its main shareholder. The transaction marks a key turning point in the company's management, which will seek to consolidate its presence in the local and regional aviation market with a new expansion strategy.
According to an official statement released by the company itself, COC will lead the board of directors, holding the positions of Chairman and Vice Chairman. The previous fund, Cartesian Capital Group, will retain a portion of the share package and will continue to be part of the board, although no longer with majority control.
Objectives of the new management: financial balance and growth
The main challenge COC Global will face is to reorganize Flybondi's finances, which have been hit by several months of operational turbulence, while an expansion of routes and fleet is planned. The company indicated that they will work "constructively with the authorities and main stakeholders" to maintain job continuity and enhance service.
The CEO of Flybondi, Mauricio Sana, had previously informed the 1,600 employees about the arrival of a new partner. In that internal message, he acknowledged that the company had gone through "challenging months" and that, due to the financial situation, the decision was made to suspend the NASDAQ listing project, which had started in 2023.
Who is COC Global Enterprise
Flybondi tiene nuevo dueño: fondo de EE.UU. pro Trump toma el control de la low cost
COC is a private investment fund with operations in Latin America and North America. Its portfolio includes companies managing charter flights and airport services in the U.S., such as at Opa Locka Airport (OPF) and Teterboro Executive Airport (TEB), the country's busiest private flight airport. It manages a mixed fleet of 17 aircraft and employs about 6,500 people in the region.
The bet on Flybondi aligns with its strategy of investing in companies with potential for growth, innovation, and sustainability. For the Argentine airline, this represents an opportunity for consolidation and regional expansion. It is worth noting that COC supported the President of the United States, Donald Trump.
Industry outlook and operational challenges
In addition to growth plans, Flybondi faces complaints about delays and cancellations, which have damaged its image in recent months. A report by consulting firm Adventus revealed that the low-cost carrier was the most unpunctual airline in the first quarter of 2025, with a non-compliance rate of 2.04, far surpassing Paraguayan Paranair (0.77).
At the end of 2024, cancellations reached their highest point: 71 rescheduled flights during the Holidays, with more than 13,000 affected passengers. These situations caused friction with national and provincial governments.
However, the company achieved additional revenue through the provision of ramp (handling) services for other companies, an area that benefited from the deregulation of the air transport sector promoted by the current government.
"COC Global's vision is a very valuable support. We have big plans for this new phase," said Mauricio Sana. He concluded: "We want the freedom to fly to continue connecting the country."
