Mario Fonseca/RIO DE JANEIRO
LanChile has tied up with Ecuatoriana in a move that could lead to financially struggling VASP being ousted as the majority shareholder in the Ecuadorian flag-carrier.
The Ecuadorian government, which holds a 49.9% stake in the airline, says it plans to dissolve the partnership with VASP. It is currently seeking a partner to acquire the Brazilian airline's 51.1% stake.
Dissatisfaction with VASP dates to late last year, when Washington rescinded Ecuatoriana's permit to operate on the key Quito-New York route. In addition, Ecuador has filed a lawsuit against VASP for non-compliance with an agreed investment plan.
VASP has agreed to sell its share in Ecuatoriana, but claims no knowledge of discontent within its management. The Brazilian carrier has severe financial difficulties and has suspended its own major international services.
Ecuatoriana's two-year deal with LanChile allows wet-leased Chilean aircraft to operate between New York and Guayaquil, with plans to expand this service to include Guayaquil, Quito and Miami. This could lead to LanChile taking a similar equity position in Ecuatoriana, as it has with LanPeru.
The US Federal Aviation Administration's International Aviation Safety Assessment Programme currently classifies Ecuador as a Category 2 nation, preventing its airlines from flying their own aircraft into the USA. Ecuatoriana would be able to circumvent this by using Chilean-registered and crewed aircraft.
VASP faces further problems with VaspEx, launched in October to bolster its air freight business. The airline lost its two Boeing 727-200C freighters when these were impounded at the request of lessor, Pegasus Aviation. Reduced to two Boeing 737-200Cs, it has lost nearly 300 franchise outlets to competitor VarigLog.
Source: Flight International
