Flybondi will imminently bring on a new shareholder, who will provide fresh funds necessary for the airline's operation. According to an internal communication from Flybondi's CEO, Mauricio Sana, to which Aviacionline had access, the company is "very close" to finalizing the incorporation of a new shareholder. This latest investment avenue is the primary reason behind the decision to pause the airline's plan to list on the Nasdaq stock market.

The email, addressed to employees, clarifies the situation following the notification submitted to the Securities and Exchange Commission (SEC) in which Flybondi and the SPAC (Special Purpose Acquisition Company) Integral Acquisition Corporation 1, formally dissolved their business combination agreement.

Dissolution of the SPAC Agreement

The dissolution of the pact was formalized on June 4, 2025, through a document filed with the SEC. As a result, the corresponding registration statement was withdrawn, and the contemplated transactions were abandoned.

The original agreement, announced on October 19, 2023, established a roadmap for Flybondi to become a public company valued at $300 million. Its main objective was to access U.S. capital markets to finance its expansion under the proposed ticker "FLYB," a plan backed by its main investor, Cartesian Capital Group.

The termination had immediate effects within the SPAC. On June 5, 2025, three directors—Lynne Thornton, Niraj Javeri, and Stuart Hutton—resigned from the Board, alongside the Chief Financial Officer. The SEC filing clarified that the resignations did not stem from disagreements over company operations.

In Summary

• Did Flybondi cancel its Nasdaq IPO? According to its CEO, the plan is not canceled but "paused" to prioritize the entry of a new investor. The company expects to resume it in the future.
• Who is Flybondi's new shareholder? The identity of the new shareholder has not yet been publicly revealed. The CEO indicated that the announcement is imminent.
• What happened to the agreement with the SPAC? The merger agreement with Integral Acquisition Corp. 1 was terminated by mutual agreement on June 4, a consequence of this new investment opportunity for Flybondi.

A New Path Forward

In the message to employees, Sana acknowledged that "these last few months have been complex," which prompted an active search for capital. "The good news is that we are very close to being able to make it happen through a new shareholder," the CEO wrote.

Due to this new process, the company decided to "pause the NASDAQ listing, at least for a while." Nevertheless, Sana reaffirmed the long-term goal, stating he remained convinced that "being an Argentine airline listed on NASDAQ is still something very good for everyone."

When consulted by Aviacionline, Flybondi declined to make official statements, citing the confidentiality of the ongoing process. Sources close to the company expressed "satisfaction" and "relief" at the arrival of new capital, calling it essential for restoring the fleet, improving flight reliability, and resuming expansion plans.

These plans include initiatives beyond passenger flights. In September 2024, the company was authorized to offer ground handling services (the ground-based support services for an aircraft, such as ramp and baggage services) to third parties, an operation that will benefit from new funding.

The CEO's statement concludes on an optimistic note, anticipating that "good changes are coming for everyone."

Temas

• Flybondi

AUTOR

Pablo Diaz (Diazpez)

Desde 2017, haciendo periodismo aeronáutico. Award-Winning Journalist: Ganador de la edición 2023 de "Periodismo de Altura", otorgado por ALTA. Facts don't care about your feelings.

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