Stamford, CT — Wexford Capital LP (“Wexford”) announced that it and certain affiliates received bankruptcy court approval to reorganize and acquire Via Airlines, Inc. (collectively, “Via” or the “Company), a FAA Part 121 regional airline based in Maitland, FL. This transaction allows Via, which will be rebranded, to restart domestic operations, once approved by the DOT and recertified by the FAA. The new airline will be supported by a highly experienced management team.
The reorganized company intends to provide regional air services in strategic markets that have been crippled in the wake of Covid-19. The Company’s new management team will be led by former COO of Republic Airways, Wayne Heller who will serve as the Company’s CEO.
“We are evaluating initial launch markets and strategic partnerships, including, but not limited to, the Southeast, Midwest and Alaskan markets,” said Heller. “Although the Pandemic has decimated and challenged the airline industry today, we believe that a quality regional air services provider will continue to be highly desired and vital for the transportation of people and goods throughout the U.S for the foreseeable future, and we intend to be part of that solution”, Heller went on to say.
“We are excited to reenter the regional airline space. Leveraging our decades of experience investing in the airline industry, we are excited about the opportunity to create the next best-in-class regional airline,” added Arthur Amron, a Partner of Wexford.
About Wexford Capital LP
Wexford is an SEC-registered, value-oriented multi-strategy investment firm that has been capturing risk-adjusted returns across public and private markets since its inception in 1994. The firm has offices in Stamford, CT; West Palm Beach, FL; and Oklahoma City, OK. Wexford maintains a highly opportunistic approach to investing, centered on buying quality assets at attractive prices. Wexford’s enduring success stems from its ability to consistently form views that vary from consensus relative to the market, which is driven by Wexford’s foundational private equity experience. The transportation sector, and in particular the airline industry, is one of Wexford’s core areas of expertise. Wexford has a long track record of investing in the airline industry, such as founding and driving the transformation of Republic Airways into a regional airline with over 200+ modern regional jets. For more information, visit www.wexford.com