Robert Scott, Board Chairman of Viva, issued a brief statement saying, "Viva remains interested in acquiring RegionsAir and capitalizing on the advantages that an acquisition of this caliber would offer our organization.. However, in the pursuant of our final agreement we have certain issues within the contract that need to be mutually satisfied and on which the parties continue to visit. Further, RegionsAir has been utilizing aircraft provided by BAE Systems and as a result BAE is the primary creditor to RegionsAir. Therefore, in my opinion it is mandatory that the Regions/Viva agreement meets with the approval of BAE. It is no secret that as part of the Regions transaction that we will be seeking concessions from BAE as well as exploring some other opportunities to work together both domestically and in our Caribbean subsidiaries. We do not enjoy exclusivity with regard to our attempts to close this transaction but I feel we are properly positioned to continue our efforts to finalize the Regions acquisition and accordingly, will do so. However, it should be noted that we have other "irons in the fire" and that it is not necessary to complete the Regions transaction for us to be successful".
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