Iberia (airline) to condone the 150 million dollar debt that Viasa had accumulated to the Spanish carrier in exchange for keeping its fleet composed by four DC-10's and five Boeing 727's. The agreement included a compensation for the staff after the liquidation, which had a cost of 20 million dollars. Regarding Ladeco, Iberia was a minority shareholder (35%) and did not intervene in its management. Initially Iberia had the intention of achieving the merger of Ladeco with Lan Chile, but Chilean antitrust laws prevented it. Later, in 1995, Lan Chile made a major acquisition of Ladeco shares and acquired 57.6% of the
Jazz (airline) Limited (CCAL) had served a 30-day termination notice for Jazz's month-to-month lease of terminal space at Toronto City Centre Airport. The Toronto Port Authority itself does not control any significant terminal space at the airport, but it extended permission for Jazz to continue using the airport; however, since the airline could not find terminal space, they cancelled service to the airport at the end of February 2006. CCAL had been bought by REGCO Holdings, (now Porter Aviation Holdings), the owners of Porter Airlines, which launched service from the airport later that year. In August 2008, Jazz Air removed all life