New Chilean-Cuban joint venture

Cubana de Aviacion and Chile’s International Network Group S.A. have just signed an agreement to forge a joint-ventured travel agency.

Marcel Luis Marambio, vice president of the Chilean company, and Cubana de Aviacion president Ramon Valdivia inked the document that officially pieces together a stock company based on nominative shares whose domain includes Sol y Son, a tour operator that has moved over 700,000 tourists and raked in some $300 million, broken down in $162 million out of plane ticket sales written off for Cubana de Aviacion and the remainder coming from the leisure industry.

The signing ceremony of the joint venture agreement took place at Havana’s Palco Hotel and was attended by Cuba’s tourism minister Ibrahim Ferradaz and Rogelio Acevedo, chairman of the island nation’s Civil Aviation Institute, who highlighted the agreement as a strong move that beefs up Sol y Son’s stance in the world market, widens the sales network and heightens service quality on the road to a much better tourist industry in Cuba.