Brazil is getting a new domestic airline before 2021. The most surprising part about the news is that Brazil's newest airline is actually coming by way of a bus company. It has been announced that Itapemirim Group received $500 million to set up Brazil's newest airline. The funds were delivered by a wealth fund out of Abu Dhabi. We also have word that the new airline will be called Ita.
We already know quite a bit about what Ita's fleet will look like when the airline launches next year. Ita's fleet will consist of 35 Bombardier aircraft. We can expect 15 of those planes to have 80-passenger capacity. The remaining 20 will be capable of fitting 100 passengers. However, no official details have been released regarding which plane models Ita plans to fly.
Ita's arrival is important for Brazil's travel industry. The truth is that the Brazilian airline market currently suffers from a lack of connectivity. In fact, the situation has been so dire that the Brazilian government opened up the country's domestic market to international companies recently. Both Air Europa and Air Nostrum have expressed interest in operating domestic flights within Brazil. A forecast from the IATA predicts that Brazil's airline market could grow by as much as 105 percent within the next 20 years.
Itapemirim Group may be new to the airline market. However, the company has been providing bus services since 1953. It stands today as the largest provider of road transportation for passengers in Latin America.