Victor Miguel Pacheco Mendez

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In this Spanish name, the first or paternal surname is Pacheco.
Victor Miguel Pacheco Mendez

Victor Miguel Pacheco Mendez (born Dominican Republic, June 9, 1982) is a Dominican businessman and entrepreneur.[1] He was introduced to the world of finance and entrepreneurship by his grandfather Víctor Méndez Capellán,[2] Currently is the founder of Arajet and Laytrip,[3] among other capacities.

Education

Pacheco completed elementary school at Carol Morgan School and later continued his secondary studies at Riverside Military Academy, Georgia.[4] Most recently, he graduated from Universidad Iberoamericana with a bachelor's degree in Business Administration.

Career

He has started his career in finance and administration. Within the financial and banking sector, in charge of many strategic executive positions, has become a business executive with an extensive background in the aviation and financial services industry. Expert in Negotiation, Strategic Planning, Airlines and Commercial Strategy, fintech and technological development.[5][6][7][8][9]

In August 2015 Victor Miguel Pacheco got certifications for the initiation of flying operations from the Instituto Dominicano de Aviación Civil (IDAC) and the Junta de Aviación Civil (JAC).[10]

By June 28, 2017, Mr. Víctor Miguel Pacheco, founder of the company now known as Arajet holds the position of Executive Officer of Arajet, first low-cost carrier in the Dominican Republic.[11][12][13]

In November 2021, started Laytrip, Inc., a worldwide layaway travel provider, as chairman.[14][15]

During the launch ceremony of the Arajet airline on March 14, 2022, Victor Pacheco announced his alliance as a strategic partner with Bain Capital, one of the world’s leading private multi-asset alternative investment firms and Griffin Global Asset Management, a commercial aircraft leasing and alternative asset management company, to support Arajet team’s growth plans and mission.[16][17]

On May 12, 2022, ARAJET and Aeropuertos Dominicanos Siglo XXI (AERODOM) - a subsidiary of VINCI Airports - signed an agreement to establish the José Francisco Peña Gómez International Airport of the Americas (AILA-JFPG) in the city of Santo Domingo as their operational base. Thanks to the signed agreement, the AILA-JFPG serves as ARAJET's home base. In practice, this means that they are basing their aircraft and crews there, and will have the city of Santo Domingo as a departure point for all flights. Aircraft will, as a rule, return there for overnight stays if the duration of the flight permits.

On May 24, 2022, the president of El Salvador, Nayib Bukele, met with the president of ARAJET, Victor Pacheco, and the main aeronautical authorities of the Dominican Republic, where they agreed to begin work so that Arajet, can start direct operations to San Salvador at the end of the year through the Las Americas International Airport (AILA). According to Victor Pacheco, currently the connection between San Salvador and Santo Domingo takes an average of 10 to 14 hours with stopovers in different cities in the region, at a cost of approximately US$1,000. Arajet's direct flights will reduce that time to only three hours, with prices between 30% to 60% lower than those of the market.

On June 20, 2022, Arajet was formally certified by the Dominican Institute of Civil Aviation (IDAC) as a flight operator in the DR. This certification authorizes them to start commercial air transport operations, as an instrument of operational safety. With this milestone for national aviation, the country will strengthen its air connectivity, boosting key sectors of the national economy such as trade and tourism, among others.

On September 13, 2022, Arajet received two new and modern aircraft named "Jaragua" and "Ojos Indígenas", thus completing a fleet of 4 aircraft, names that honor the main protected areas of the country and reaffirm its commitment to the conservation of the environment and natural resources, with a fleet of aircraft that will save on fuel costs, maintenance and operations, allowing to transfer these savings to its passengers, while reducing noise pollution.

On August 8, 2022, Arajet formally and officially opens its sales to the public on www.arajet.com, offering the lowest fares in the national market, thus initiating what will soon become the democratization of national aviation.

References

  1. ^ "Airlines". The Business Year. Retrieved 2017-05-24.
  2. ^ "Méndez Capellán presentó un libro con su autobiografía". 2 December 2010.
  3. ^ "Dominican Republic's flycana to rebrand as Arajet, add MAX". ch-aviation. Retrieved 2021-11-15.
  4. ^ "Academia Militar Riverside, educando a los jóvenes con liderazgo para triunfar en la vida". Hoy Digital (in European Spanish). 2004-05-15. Retrieved 2017-05-24.
  5. ^ "Dinámica Empresarial". Hoy Digital. 2011-04-08. Retrieved 2022-02-19.
  6. ^ "Víctor Pacheco (Dominican Wings): "Siempre soñé con crear una línea" - Noticias de turismo - arecoa.com" (in Spanish). Retrieved 2022-02-19.
  7. ^ "Infotur Dominicano » Dominican Wings recibe certificados AOC y CAE de parte del IDAC y de la JAC para sus operaciones" (in Spanish). Retrieved 2022-02-19.
  8. ^ "Data Vimenca - Grupo Vimenca". Grupo Vimenca.
  9. ^ "Remesas Vimenca".
  10. ^ "Infotur Dominicano » Dominican Wings recibe certificados AOC y CAE de parte del IDAC y de la JAC para sus operaciones" (in Spanish). Retrieved 2022-02-19.
  11. ^ "Avion Express Sells its Shares in Dominican Wings to the President of the Company". Flyavex. Retrieved 2017-07-08.
  12. ^ Sena, Gastón (2021-11-07). "Se reveló el primer Boeing 737 MAX para una aerolínea dominicana". Aviacionline.com (in Spanish). Retrieved 2021-11-15.
  13. ^ "Nueva aerolínea dominicana Arajet operará con cinco Boeing 737 MAX 8". Avion Revue Internacional (in Spanish). 2021-11-13. Retrieved 2021-11-15.
  14. ^ Roth, Mike. "Laytrip Announces Launch of Hotels Module and Increase in Destinations on Laytrip.com".{{cite web}}: CS1 maint: url-status (link)
  15. ^ "LAYTRIP HOLDINGS LIMITED - COBHAM". www.checkcompany.co.uk. Retrieved 2022-02-19.
  16. ^ Capital, Bain. "Arajet Takes Flight as The Dominican Republic's New Ultra-Low Cost Airline". Bain Capital. Retrieved 2022-04-30.
  17. ^ Management, Griffin Global Asset (2022-03-14). "Griffin Global Asset Management Announces the Delivery of One Boeing 737 MAX 8 to Arajet". GlobeNewswire News Room. Retrieved 2022-04-30.

[1][2][3][4]

Further reading

  1. ^ Staff, Forbes (2022-05-23). "Aerolínea dominicana Arajet buscar abrir operaciones en El Salvador". Forbes Centroamérica • Información de negocios y estilo de vida para los líderes de Centroamérica y RD (in Spanish). Retrieved 2022-08-19.
  2. ^ Bohórquez, Kevin Steven (2022-08-03). "El ambicioso plan de vuelo de Arajet, la nueva aerolínea de bajo costo que entra a Colombia". Forbes Colombia (in Mexican Spanish). Retrieved 2022-08-19.
  3. ^ "Víctor Pacheco, CEO de Arajet: 'Vamos a tener pasajes desde $ 145 para que los ecuatorianos puedan venir a República Dominicana'". El Universo (in Spanish). 2022-08-19. Retrieved 2022-08-19.
  4. ^ "Noticias de - arecoa.com" (in Spanish). Retrieved 2022-08-19.
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