Aerolineas Argentinas Rushing to Open Affiliate Carrier in Peru

With an initial investment of $10 million, Aerolineas Argentinas –run by Spanish group Marsans- will create Aerolineas del Peru, the South American nation´s flagship carrier.

Aerolineas del Peru will come into being a year ahead of schedule with the Marsans Group holding 49 percent of all stakes, while the remaining 51 percent will be in the hands of Peruvian investors.

The company will get the green light to operate domestic flights three to four months from now and is supposed to get an international license by the end of the year.

The Marsans group is highly interested in Peru´s tourism potentials and will rely on its vast experience in the sector, including a number of other airlines, like Aerolineas de Chile and Air Plus Comet, also controlled by the Spanish consortium.

Aerolineas Argentinas is expecting to nab some $200 million worth of net revenues this year, up 54.9 percent from 2004.