YOERI1970
Posts: 135
Joined: Mon Feb 05, 2001 11:14 pm

What Ever Happened To Viasa

Fri Dec 07, 2001 8:52 pm

What ever happened to VIASA.
I haven't heard about them in a few years.
 
Captain.MD-11
Posts: 657
Joined: Sun Oct 14, 2001 7:03 am

RE: What Ever Happened To Viasa

Fri Dec 07, 2001 9:48 pm

They went bust. A shame really as they would have been another MD-11 operator!
Twins,twins, everywhere.... but where are the three holers?
 
BestWestern
Posts: 7039
Joined: Fri Sep 08, 2000 8:46 pm

RE: What Ever Happened To Viasa

Fri Dec 07, 2001 9:59 pm

Got to blame IB for Viasas downfall. Another cockup by Europes worst run carrier.
You are 100 times more likely to catch a cold on a flight than an average person!
 
Varghel
Posts: 74
Joined: Mon Sep 03, 2001 3:58 am

RE: What Ever Happened To Viasa

Sat Dec 08, 2001 12:20 am

Viasa was sold in 1991, mainly to Iberia. Therefore, the company began to increase its debts, above all because of Iberia's bad managemnet.

By 1991 till January 1997 Viasa lost 27 of its international routes, even the more profitable as New Orleans or Houston. Iberia management did not want Viasa to reneuve its aircrafts so they suddendly quitted all MD-11 orders and rented them, in over price, a DC-10 and some 727's.

Iberia ordered that all Viasa business had to be Spanish made: Iberia cancelled the profitable relationship with KLM (dating back to 1960) that assisted Viasa in all concerning the aircraft manteinance.

So on: in January 1997 Viasa was in debt for less than $20 millions, but owed $140 million just to Iberia.
Iberia didn't really want to save the company, and Viasa (among dozens of plans to save it from Venezuela and the United States) was forced to cease operations.

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Regards,
Varghel
Varghel

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