Ryan-backed Grupo Viva sells stake in airline to finance partner

Cartesian Capital Group takes minority stake in Latin American budget airline while Irelandia remains the majority owner of group

Declan Ryan: the aviation mogul is a backer of Grupo Viva

Grupo Viva, the airline backed by Declan Ryan, the Irish aviation businessman, has sold a minority stake to a finance partner.

Cartesian Capital Group, a New York private equity firm, is joining Ryan’s Irelandia Aviation as an investor at the Latin American budget airline.

While Cartesian is taking a shareholding, Irelandia will remain the majority owner of the group.

Cartesian, which is also an investor in Flybondi, an Argentinian low-cost operator, has previously provided financing ...