Air Mogul’s JetSmart Sees Opening in Latin America Amid Distress

Ultra low-cost carrier JetSmart Airlines is speeding up plans to expand in South America as the region’s largest airlines cede ground after being forced into bankruptcy by the Covid-19 travel collapse.

Owned by no-frills tycoon Bill Franke’s private equity firm Indigo Partners LLC, which also has a controlling interest in Frontier Airlines, JetSmart is launching a Peruvian airline early next year and a cargo business within months. The carrier is also eyeing an eventual move into Brazil and Colombia, depending on how the pandemic affects the industry, said Chief Executive Officer Estuardo Ortiz.

“We are planning on ...