Mexican low-cost carrier VivaAerobus has postponed its initial public offering (IPO) due to volatile market conditions.
“While we received significant interest from potential investors, the continued market volatility is not an optimal condition for an IPO,” says Juan Carlos Zuazua, chief executive of the carrier, in a statement issued late on 11 February.
VivaAerobus had planned to price its IPO on the Bolsa Mexicana on 11 February. It planned to use the proceeds to partially finance its recent order for 52 Airbus A320 family aircraft.
“The company is in a strong financial position and has the support of world-class investors and partners,” says Zuazua. “We will continue to monitor market conditions and look forward to taking the company public in the future.”
VivaAerobus’ postponed IPO follows its Mexican peers Volaris who listed on the stock exchange in 2013 and Aeromexico in 2011.