Word: viasa
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Dates: during 1962-1962
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...Discouraged by $250,000-a-month losses on international routes alone, the Venezuelan government 14 months ago transformed its state-owned LAV airline into VIASA. a new international carrier whose ownership is split 55%-45% between the government and private Venezuelan capital. With a profit of $100,000 so far, VIASA expects to wind up this year firmly in the black. Chiefly responsible is VIASA President Oscar Machado Zuloaga, 42, dynamic, M.I.T.-edu-cated general manager of the Caracas Electrical Co. Machado, who runs the airline on the side for a salary of $8,000 a year, has turned...
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