Ecuadorian privatisation agency Conam has rejected an offer from Peruvian carrier Aero Continente to take a 70% stake in the country's flag carrier Ecuatoriana in a deal worth $7 million in cash and the assumption of its $35 million debt. The airline is 45%-owned by VASP but is under the control of a legal administrator who was appointed after the government of Ecuador accused the Brazilian airline of mismanagement. As a result, "Ecuador is not legally able to change the airline's shareholder structure," says Conam's general manager Antonio Pere. Ecuatoriana's routes to Miami and New York are currently being operated by LanChile, whose operating contract expires on 30 June but is likely to be renewed.
Source: Flight International
