ASERCA, the Venezuelan carrier, is in the process of acquiring a 70% stake in Air Aruba and recently signed a marketing alliance, together with Air Aruba, with Continental. LatinPass, the multi-carrier frequent flyer program, is owned by 10 Latin American airlines (Mexicana, Grupo TACA, COPA, Avianca, Saeta, and Aerospotal Alas de Venezuela) and has non-equity ties with US Airways, KLM and TWA.
Aserca DID acquire 70% of Air Aruba, but this happened in 1998. Two years later, Air Aruba went bankrupt and dissappeared. This news release is a joke.