University of New Mexico UNM Digital Repository NotiSur Latin America Digital Beat (LADB) 8-24-1995 Ecuador's State Airline Sold to Brazilian-Ecuadoran Consortium LADB Staff Follow this and additional works at: https://digitalrepository.unm.edu/notisur Recommended Citation LADB Staff. "Ecuador's State Airline Sold to Brazilian-Ecuadoran Consortium." (1995). https://digitalrepository.unm.edu/notisur/ 12000 This Article is brought to you for free and open access by the Latin America Digital Beat (LADB) at UNM Digital Repository. It has been accepted for inclusion in NotiSur by an authorized administrator of UNM Digital Repository. For more information, please contact
[email protected]. LADB Article Id: 55971 ISSN: 1060-4189 Ecuador's State Airline Sold to Brazilian-Ecuadoran Consortium by LADB Staff Category/Department: Ecuador Published: 1995-08-24 On Aug. 12, President Sixto Duran Ballen's administration sold the state airline Ecuatoriana de Aviacion to a consortium comprised of the Brazilian carrier Viacao Aerea Sao Paulo (VASP) and a group of Ecuadoran investors represented by Juan El Juri. Opposition politicians, however, may try to roll the sale back through legal channels, since they accuse the executive of improper conduct in preparing the airline's privatization. Ecuatoriana was sold simultaneously on the Quito and Guayaquil stock exchanges, making it the third public enterprise to be privatized through the local financial markets. In 1994, the government sold two state cement factories Cemento Nacional and Cemento Selva Alegre on the domestic stock exchanges. VASP and Juan El Juri purchased all of the 21,947 airline shares that were up for sale, representing 50.1% of Ecuatoriana's total stock.