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
Iberia (airline) Binter Canarias and Binter Mediterráneo, and Latin American airlines Aerolíneas Argentinas, Austral, Viasa and Ladeco. During 2001 Iberia was privatised and shares were listed on stock exchanges. By 2002, when Iberia celebrated its 75th anniversary, it had carried nearly 500 million people in its history. In July 2004, Iberia announced it had decided to move its Latin American hub from Miami, Florida to San Pedro Sula, Honduras. On 5 February 2006, Terminal 4 at Madrid - Barajas Airport was turned over to Iberia and fellow Oneworld alliance members. This provided much-needed expansion capabilities for Iberia. Iberia represents around 60% of