A few years ago, before the magazine Avion Review went international, I was keeping good track of Aviaco. All of a sudden it disappeared and didn't hear anything about it...
According to many, it was the "Jewel of the Crown" (referring to its good financial situation as part of the Iberia Group).
It is quiet obvious it is not still around, as the most recent picture in the site dates of -I think- 1998. What happened to it? Was it a good decision to integrate it into IB? (as I supposed it happened).