Lineas Aereas de Venezuela gets privatized and rebrands as LAVENZA

[Cedric3108]

Caracas, Thursday, June 7th 1990



- Lineas Aereas de Venezuela announces the completion of its privatization -

As of yesterday the formerly partially state-owned national airline of Venezuela has completed the transition to a privatly owned company. As part of their economic revitalization package "El Gran Viraje" (The Great Turn) the Venezuelan government under leadership of President Carlos Andrés Pérez announced the impending privatization of major state-owned enterprises, including the national airline, last year. This move was made in order to reduce government debt and stimulate growth by encouraging private investment.
Carlos Andrés Pérez said during a press interview: "The airline is in great shape, it has just completed a major fleet renewal program and is highly profitable. There is no good reason to keep tax-payer money tied up in this enterprise, at this point in time."
The airlines fleet was overhauled in the past 6 years; 1960s-era planes (Martin 4-0-4s, Boeing 720/707 and Boeing 737-100/200) were replaced by state-of-the-art Embraer 120, Airbus A300/310 and McDonnell Douglas MD-88 aircraft. CEO Cedric3108: "We were among the last airlines to operate these types. Especially the Martin 4-0-4s were quite outdated. But it was also a sad day when the last of our Boeing 720s left active service after 27 years of operating the type, we really loved the aircraft and it was highly profitable for us, even in the depth of the 1980s oil crisis."
In order to properly communicate this momentous change in the companies ownership and structure the executive board decided to re-brand the airline as LAVENZA to give it a more modern brand image.
A new livery and logo designed by the Fisher Design Bureau was unveiled simultaneously.