Here's just the thing Colombians and budget travellers alike have been waiting for: VivaColombia is Colombia's first low-cost airline. They operate regional flights and they will be starting flying to Panama from 1 August. Check out the promotional prices, starting from 50,000 COP (little more than $25). Not bad at all!

http://www.vivacolombia.co/
Operating
Medellin-Cartagena-Medellin
Medellin-Bogota-Medellin
Medellin-Cali-Medellin
Medellin-Barranquilla-Medellin
Medellin-Santa Marta-Medellin
Medellin-San Andres-Medellin
Medellin-Monteria-Medellin
Bogota-Cartagena-Bogota
Bogota-Cali-Bogota
Bogota-Pereira-Bogota
Bogota-Monteria-Bogota
Bogota-San Andrés-Bogota
Bogota-Barranquilla-Bogota
Bogota-Santa Marta-Bogota
Bogota-Bucaramanga-Bogota
Cali-Cartagena-Cali
Pereira-Cartagena-Pereira
Operating from August 1
Bogota-Panama-Bogota
Medellin-Panama-Medellin
Bogota-Cucuta-Bogota