Miami-based COC Global Enterprise has taken over as the lead investor in Flybondi, marking a new ownership phase for the Argentine ULCC as it seeks to stabilize operations and resume growth.
The fund, which focuses on aviation and technology investments in Latin and North America, will lead Flybondi’s board of directors and assume the roles of chairman and vice chairman. Existing shareholder Cartesian Capital Group will retain a seat on the board.
COC says it plans to consolidate Flybondi operations, improve service and strengthen finances “within a reasonable period of time.” This includes adding aircraft and expanding routes, with a commitment to maintain jobs across the company’s 1,525-strong workforce.
Flybondi currently operates 13 Boeing 737-800s, with two additional aircraft grounded, and serves 29 domestic routes alongside three international connections. The airline, which commenced operations in early 2018, also plans to add seasonal international services from Córdoba, Argentina, to Brazil's Florianópolis and Rio de Janeiro starting in December.
Despite its network plans, Flybondi’s domestic market share has declined from 25.8% in June 2024 to 19.4% in June 2025, OAG Schedules Analyser data shows. Its monthly seat capacity has dropped to 288,000, down from 343,000 year-over-year.
The carrier now ranks third in Argentina’s domestic market, behind Aerolíneas Argentinas at 56.7% and JetSmart, which has nearly doubled its share to 23.9% over the past 12 months.
The decline follows a period of operational disruption at Flybondi, which has struggled with a spike in flight cancellations and reduced fleet availability, contributing to its shrinking market share. In November 2024, Argentina’s government ordered the airline to submit a corrective operational plan after it canceled 20% of scheduled flights that month. The disruptions were attributed to maintenance delays and a lack of spare parts, which left several aircraft grounded.
To help bridge the shortfall and stabilize operations, Flybondi leased two Airbus A320s during the northern winter 2024-25 season—its first use of a non-737 type—which operated through March 2025.
Flybondi CEO Mauricio Sana welcomed COC becoming the ULCC’s lead investor, calling it “an opportunity to continue transforming the airline industry, focusing on consolidating our service and our value proposition.”
COC brings aviation expertise through its charter operations and airport infrastructure in the U.S., including ramp, hangar, and airport services at Opa Locka in partnership with Jet Aviation, as well as ramp and hangar services at Teterboro. Financial terms of the deal were not disclosed.
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