Ecuatoriana was privatised at the end of August with a consortium led by Vasp buying a 50.1 per cent stake for $10.5 million up front, plus a promise to invest $64 million in cash and other resources over the next five years. The latter figure includes $21 million in subsidies for aircraft leases. Ecuatoriana intends to start services to the US and Europe with seven leased aircraft.


Source: Airline Business