“Flycana continues in its plan to be the Dominican Republic’s flag line”
Fred Jacobson, president of Flycana
Given the substantial impact that Covid-19 has caused in the travel industry, airlines are the most affected ones; Loss of routes, jobs, debts, and bankruptcy are the consequences that the primary resource for tourism has faced as a result of the pandemic.
The question arises whether the aviation projects that were aired before the pandemic will continue their course, as with Flycana in the Dominican Republic. Flycana is an airline that, since 2018, its managers announced the start-up of its operation with an operational takeoff foreseen in the medium term.
Fred Jacobson, president of Flycana, clarified the doubt. He explained exclusively to arecoa.com that the airline is continuing to become the leading airline in the Caribbean, under the Dominican flag, and with its main headquarters in Santo Domingo.
He indicated that obviously, Covid-19 had delayed operations because the financing they were looking for could not be completed between the end of 2019 and the first quarter of 2020. He explained that he expects the start date to be in the second quarter of next year, 2021.
“Taking into account the pandemic, we have considered that the most appropriate time to start operations is by the end of the second quarter of 2021. Our goal is to complete the financing of Flycana by the end of 2020,” he said.
To obtain the capital that the line needed, the airline hired an investment bank in New York that expected to complete the round of the procedure between December 2019 and February 2020. An amount of 80 million dollars was required to finance the airline for the first five years with the start of operations that includes seven aircraft and the projections of reaching 32 in that period.
Jacobsen explained why the country continues to be attractive to executives who hope to materialize the implementation of the commercial aviation project, such as the location and its great strength with tourism, which attracts the majority of visitors.
“The Dominican Republic is the main air transport market in the Caribbean, and the country is strategically located to develop the largest hub in the region. Additionally, it combines a strong vocation for tourism that combines with Dominican traffic that demands low-cost transportation to connect within the region,” he emphasized.
Regarding the strategy that the airline will offer, the Flycana manager indicated that it remains the same. “Offer the lowest rates in the market, guaranteeing high operational standards. We will connect Santo Domingo with direct flights to the main destinations in North America, the Caribbean, Central, and South America.”
The airline’s business model focuses on operating through the Las Américas airport ( AILA) since it considers Santo Domingo a vital destination for Dominicans.