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
Mount Cook Airline Mount Cook Airline Mount Cook Airline, a subsidiary of Air New Zealand, is a regional airline based in Christchurch, New Zealand. Formerly part of the Mount Cook Group, it now operates scheduled services throughout the country under the Air New Zealand Link brand. The airline operates the ATR 72-500 and ATR 72-600 aircraft, and all its aircraft wear the Air New Zealand livery. Its main base is Christchurch International Airport. The airline was established and started operations in 1920 at Timaru by Rodolph Lysaght Wigley, who in 1906 had driven the first motor car to The Hermitage. Wigley bought five