Irelandia Aviation has had significant success with LCC developments to date.

We have developed 5 LCC's around the world which have become well established in their geographies. We have realised our investment in the 3 oldest airlines and achieved significant returns.

This shows the potential of the LCC model, carefully developed and managed, to create substantial value while providing consumers with a highly efficient, reliable, low fare service and benefiting the region through increased connectivity and affordable travel .


  • Europe’s largest LCC and the world’s largest international airline (passengers carried)
  • Founded by Ryan family in 1985; developer of LCC model in Europe
  • 82m passengers per annum ; 300 aircraft
  • IPO 1997 (NASDAQ)
  • Outperformed NASDAQ by 8x, 1997-2012

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Allegiant Air

  • USA leisure travel airline with very distinctive model; renowned for creating new markets
  • Irelandia investment in 2005 as part of redevelopment and change of business model
  • 7m passengers; over 69 aircraft
  • IPO 2006 (NASDAQ)
  • 6x return on investment after 24 months

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Tiger Airways

  • Asian and Australian low cost airline; HQ in Singapore
  • Founded in 2004; collaboration with Singapore Airlines 49%, Indigo Partners 24% and Temasek 11%
  • 7m passengers; 43 aircraft
  • IPO 2010 (Singapore)
  • 28x return multiple on initial investment

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Viva Aerobus

  • Mexico’s low fares airline; low cost leader
  • Founded 2006
  • Partnership with IAMSA, Mexico’s largest bus operator
  • Private company.
  • Exited in 2016 in a transaction that included aquiring IAMSA shares in Viva Air

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Viva Air 

  • Commenced initially in Colombia in May 2012 as Viva Colombia, the first LCC in Colombia; bringing low faresto new passengers
  • Extended Irelandia Aviation's reach in Latin America
  • Initial investment in the form of a Partnership with Grupo Bolivar, Grupo Fast and IAMSA (Mexico), leveraging the experience and synergies with Viva Aerobus Mexico
  • Irelandia Aviation took 100% control in 2016
  • Formed Viva Air Group and subsequently launched Viva Air Peru in May 2017
  • Currently operating 23 aircraft and carried 6.3m passengers in 2019

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