Mexican low-cost carriers Volaris (Controladora Vuela Compañía de Aviación) and Viva Aerobus have signed an agreement to form a new Mexican airline group under a holding company structure. The goal is to expand low-fare travel options and connectivity both within Mexico and internationally. The transaction will be carried out through the merger of their respective holding companies, with each airline’s shareholders owning 50% of the new entity, marking a true “merger of equals.”

Both carriers will maintain their current operations, air operator certificates, and distinct brands, while being brought together under the newly created parent company, Grupo Más Vuelos. This will allow them to leverage a broader network of bases and increased capacity across key markets—including the various airports serving the Mexico City area, as well as Monterrey, Guadalajara, Cancún, and Tijuana.

The new group also aims to capitalize on the combined scale of both fleets to optimize Airbus aircraft purchases, costs, financing, and maintenance, thereby strengthening their ultra-low-cost business model. The two airlines are also considering deeper connectivity through code-sharing agreements between each other and with international partners, subject to regulatory approval.

The deal remains contingent upon the approval of shareholders and regulatory authorities, including competition and civil aviation agencies in Mexico and the United States. Completion is targeted for 2026.

Both airlines operate single-aisle Airbus A320/A320neo family aircraft—124 for Volaris and 90 for Viva Aerobus. Volaris is partly owned by U.S.-based investment fund Indigo Partners, which also holds stakes in low-cost carriers Frontier Airlines, JetSMART, and Wizz Air.