Celebrating 10 Years of Success in the Land of El Dorado

ISTAT celebrated the 10th anniversary of the ISTAT Latin America Forum at the Grand Hyatt Bogotá in Colombia, on 10-11 September. The event welcomed more than 350 attendees, including participation from 23 airlines, the highest attendance in the forum’s history. Colombia, strategically located at the northern gateway of South America, is one of the region’s most dynamic aviation markets. The country transported nearly 57 million passengers in 2024 and is projected to grow even more in the coming years.

The event began with a walking tour of Bogotá, where participants explored city highlights such as the world-renowned Gold Museum, an emblem of the El Dorado legend. In the evening, guests enjoyed a warm Welcome Reception featuring Colombian drinks and culinary specialties.

The second day opened with remarks from Priscilla Branco, ISTAT Latin America Forum chair and senior vice president of marketing for Latin America and the Caribbean at Macquarie AirFinance. She then joined Adrian Neuhauser, CEO of Abra Group, for an engaging fireside chat that set the tone for the day’s discussions. Neuhauser discussed Abra’s growth strategy in Latin America, highlighting Gol’s emergence from Chapter 11, the potential merger with Azul and ongoing investments in SKY. He confirmed that the holding company is still targeting a possible IPO in 2026 and described competition with LATAM and COPA across the region as “quite healthy.”

Focusing on the Colombian market, Neuhauser reflected on Avianca’s successful transformation since he became chief financial officer in 2019 — from a traditional legacy airline to a low-cost carrier. That evolution, he noted, coincided with Bogotá El Dorado Airport becoming the busiest airport in Latin America by passenger volume in 2024.

The OEM Panel, moderated by Patrick Baudis, director at Airline Factory, brought together Laurent Bayer, vice president and head of sales at Airbus Latin America & Caribbean; Christopher Jones, head of Americas and ATR president and managing director at ATR Americas Inc.; Brent McBratney, vice president of marketing for the Americas at Embraer Commercial Aircraft; and Bradley Till, managing director of product marketing and analysis at Boeing.

The panelists shared their perspectives on the Latin American market, addressing delivery delays, quality challenges, slot constraints and the broader global economic environment.

Audience polling revealed that most growth is expected to come from the single-aisle segment, with freighters ranking second. When asked about the biggest challenges facing airlines in the region, the majority pointed first to economic headwinds, followed by delivery delays. On sustainability, more than 70% of respondents highlighted fleet renewal with more efficient aircraft and access to sustainable aviation fuel as the most effective paths to achieving net zero.

Looking ahead, OEMs concluded with their product roadmaps: Airbus confirmed plans for a new single-aisle program in the second half of the next decade; Boeing is targeting 2026 for certification of the 737 MAX 7 and 10, as well as the 777X; ATR is exploring a hybrid-electric aircraft with Pratt & Whitney Canada under the EU Clean Aviation Ultra-Efficient Regional Aircraft initiative; and Embraer is progressing with several performance improvements to its E2 family.

Following a networking break, Paula Bernal, country manager for Colombia at the International Air Transport Association, presented an insightful overview of the state of the airline industry in the Americas. She highlighted Latin America’s growth potential, noting that the region averages just 0.65 annual flights per capita compared to 2.61 in North America and 4.56 in Spain. She also underscored industry concerns over the heavy burden of taxes and fees on airfares — 40% in Latin America versus a global average of 27%.

The Aviation Finance Panel, led by Anne Correa, senior vice president of forecasting and modeling, and airline and airport services at mba Aviation, featured Rafael Kuhn, managing director at Deutsche Bank; Michael Leonard, managing director at Citi; Yevgeniya Levitin, managing director and head of aviation for the Americas at Natixis; and Benoist de Vimal, managing director and head of origination aviation for the Americas at MUFG. Panelists emphasized the resilience of Latin American carriers, which survived COVID-19 largely without government support. They noted that post-restructuring rationalization has strengthened airlines and reopened access to capital markets, enabling more diversified financing strategies to weather future economic cycles.

After lunch, Felipe Gutiérrez Forero, CEO of Clic Air, joined Christopher Jones of ATR for a fireside chat. A lifelong aviation enthusiast mentored by Alfonso Ávila, Gutiérrez Forero shared Clic’s story as a regional carrier operating ATR 42s and 72s. He described the airline’s disciplined cost structure and measured approach to growth.

The MRO and Aftermarket Panel, moderated by Paul Jones, vice president for Latin America at Willis Lease Finance Corporation, included: Luis M. Carrillo Díaz, director of supply chain at Lufthansa Technik; Laura Ivaskaite, vice president of commercial and investments at Hanwha Aviation; Sebastien Maury, sales director for Latin America at StandardAero; and Lizú Reyna Ramos, commercial director at Mexicana MRO.

The panel highlighted persistent supply chain constraints, along with customs and tax challenges that complicate regional operations. Speakers emphasized that strong planning and open communication with customers are key to overcoming these hurdles.

The Airline Panel, led by Catalina Mejía, vice president of sales at DAE Capital, featured: István Jámbor, vice president of fleet at Arajet; Juan Carlos Roncallo de la Vega, senior fleet manager at Viva Aerobus; Jorge Sierra, fleet director at Avianca; and Rodolfo Vigueras, senior manager of fleet planning and administration at Volaris. Airline leaders shared updates on their fleet strategies and financing approaches. Several expressed concerns over current lease rate levels and the impact of increased aircraft trading among lessors on asset values.

The event concluded with the Lessor Panel, moderated by Victor Rios, senior director of procurement and fleet at Copa Airlines, featuring: Paulus Figueiredo, senior vice president of marketing for the Americas at Avolon; Bashir Hajjar, senior vice president and head of Americas leasing at AerCap; Esteban Jauregui Lorda, CEO of Avion Express Brasil; and Walter Valarezo, head of Americas sales at DAE Capital. Panelists predicted further consolidation in the leasing market and confirmed that none of their firms plan to pursue financial leases. Jauregui offered a unique perspective as the leader of Avion Express Brasil, an ACMI airline that also operates as a lessor.

The forum closed with a memorable evening at Andrés DC, one of Bogotá’s most iconic venues. Guests enjoyed live Colombian music, authentic cuisine and remembrances of García Márquez’s magical realism, a fitting finale to an unforgettable event.