Sky Airline (Chile) and AviancaTaca Holdings have concluded a Memorandum of Understanding (MOU) in which the Colombian group will acquire a controlling 59 percent stake in the Chilean carrier. Sky's operations will continue to focus on domestic Chilean and regional South American flights.

In a statement the airline thanked the Russian ministry of finance, the transport ministry, the Federal Air Transport Agency, and the State Corporation Bank for Development for their financial support.

Cuba has long been off limits to most Americans, with US tourists to the country allowed under 12 tightly regulated categories of travel by the US government. The island nation is of great interest to the cruise industry, however, which is dominated in the Caribbean by American passengers.

Even before last week’s rapprochement between the U.S. and Cuba, private equity companies from Bain Capital Partners LLC to billionaire Sam Zell’s Equity International were boosting investments in Caribbean resorts as traditional lenders scaled back operations.

Elite Traveler Magazine has just reported the top ten destinations to enjoy the benefits of private jet charter flights during last year’s peak winter season, which resulted in revenues of $867 million from 12,566 flights. Nassau in The Bahamas, St Maarten and Turks and Caicos led the way.