Domingo Brief — Flybondi taking off, the D.R.’s growth, and Toyota Puerto Rico is thriving

Each Sunday, take two minutes to catch key stories and opportunities shaping Latin America.

🇦🇷 Argentine low-cost airline Flybondi is doubling down and growing its fleet in 2023, in a sign it’s confident that domestic and regional travel will continue to rebound and grow. The airline, which has been operating since 2018, doubled the amount of planes in its fleet last year.

Latinometrics: Overall, Latin America is leading the recovery of the aviation industry, despite three major airline bankruptcies in 2020. While challenges remain, there is still much air travel can bring to Latin America’s post-pandemic economic recovery.

The secret sauce: What’s behind Latin America’s airline dynamism in 2023? Answers may vary, but many are pointing to consolidation (many regional airlines are pairing up and joining forces like their US or European counterparts did years ago) and capital influx from foreign investors who like the industry restructuring they’re seeing.

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🇧🇷 Brazilian mineral company Vale S.A. is fielding offers to buy a significant stake in its base metals business, purportedly meeting with carmakers, sovereign wealth funds, and industrial groups.

Latinometrics: With a $79B market capitalization that’s derived primarily from its iron ore production, Vale is the largest publicly-listed company in Latin America. It’s attempting to diversify away from iron into base metals such as copper, nickel, and cobalt — hence the value of these negotiations.