Irelandia Aviation is set to dispose of its 49% shareholding in VivaAerobus (VB, Monterrey General Mariano Escobedo) the LCC specialist's managing partner, Declan Ryan, has confirmed.

Earlier this year, reports in the Mexican press had alluded to the firm's divestiture from the LCC. As such, according to Ryan, the stake has been sold to 51% shareholder and local Mexican bus transport company, IAMSA, although the transaction is still awaiting Mexican regulatory approval.

“We’ve been in Mexico ten years, we adore the country,” Ryan told The Irish Times in an interview. “But we think the new frontier is the whole of central and South America, and that’s what we’re concentrating on ... to be frank, the Viva brand could be throughout South America.”

In July, Irelandia Aviation took control of VivaColombia (VH, Medellín José Maria Córdova) after it acquired the respective 25% stakes of Colombian firms Grupo Bolívar and Grupo Fast. With IAMSA retaining its 25% stake, Irelandia Aviation now controls 75% of the Colombian LCC.

Ryan's talk about focusing on the South American market has been reinforced following the unveiling this week of its Viva Air Perú (VV, Lima Int'l) subsidiary. Other potential target markets include: Argentina; Costa Rica; Panama; and Venezuela.