VIVI is a holding company that consists of two wholly owned subsidiaries: Viva Airlines, Inc. and Eastern Caribbean Airlines Corporation and a 49% controlling interest in Viva Air Dominicana, S.A. (By Dominincan law, foreign ownership of a Dominican corporation is limited to 49% of the outstanding ownership interest in the corporation.)
Viva Airlines, Inc. and Viva Air Dominicana, S.A. are development stage companies that are expected to provide passenger and cargo services to various destinations from a commercial hub in Santo Domingo, Dominican Republic.
Viva has been able to successfully complete negotiations with the Dominican government to become recognized as a Dominican Republic Flag Carrier. This recognition is expected to provide substantial economic rights and marketable benefits to Viva Air Dominicana, S.A.
Viva Air plans to operate 30 passenger SAAB 340a aircraft commuter flights daily in and out of several airports in the Dominican connection air service between Puerto Rico and other islands throughout the Caribbean.
Eastern Caribbean Air is based in San Juan, Puerto Rico. Eastern has previously operated as a provider of chartered airline services and is expected to return to operations soon once aircraft registration and other mandated requirements by aviation regulatory agencies are complete. Eastern will maintain a commercial hub in Puerto Rico.
VIVI plans to create a network of regionally based airlines across the Caribbean, eventually to be linked to key points in the United States, Latin America, South America and Europe, and intends to concentrate on creating strategic partnerships and acquisitions in aviation-related niche markets and opportunities.
VIVI’s strategy is to capitalize on centralized operational infrastructure and combined resource allocation of their internal holdings to service routes in "niche" markets domestically and internationally.
VIVI just completed the acquisition of River Hawk Aviation, Inc. River Hawk has operated as an aviation brokerage entity since June 24, 2003 and has primarily generated its sales through the sales and distribution of aviation parts including turbine engines.
This acquisition will immediately give VIVI major revenues. Right now River Hawk is generating $1.8 million in annual revenues and is expected to generate $2.5 million in revenues next year.
This agreement will enable VIVI to further develop a domestic corporate entity specializing in the acquisition of aircraft and the sale of aviation parts.
VIVI just announced yesterday that Calvin Humphrey is their new CEO. Calvin Humphrey has 37 years of experience in this industry. He successfully built Jetstream International Airlines into a company that was later acquired by US Airways, the 5th largest airline in the US. He was also the former CEO of Northcoast Executive Airlines and held executive positions at BAE Systems, Embraer Aircraft and Fairchild Aircraft.
VIVI announced today that Roger F. Larreur has joined their Board of Directors. He is currently Director of Sales & Marketing for Canada and the Eastern United States for Swissport USA, Inc. He previously has held management and executive positions with American Trans Air, Maxmar Aviation Consulting, and Paradise Island Airlines d/b/a Continental Connection, Gulfstream International Airlines d/b/a Continental & United Connection, Alitalia Airlines, Pan Am Express Airways and Braniff Airlines.
VIVI has also entered into a Consulting Agreement with Cambridge Partners, LLC that contemplates assisting management with certain applications of Viva International, Inc. and Viva Air Dominicana, S.A. (its 49% owned subsidiary) for separate listings on the Frankfurt Stock Exchange.
In addition, VIVI has entered into negotiations with individual owners of Company stock that will provide up to twenty million (20,000,000) shares to fund the Consulting Agreement. Under the Consulting Agreement, registered broker dealers will help effect private sales that the Company expects to generate up to $5 million in proceeds if all 20,000,000 shares are sold. The Company anticipates entering into loan agreements for up to 80% of the proceeds.
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