The 1990s economic liberalization under Alberto Fujimori , after years of economic and political chaos ( as well as a violent Maoist insurgency ) , brought a series of measures aimed at the privatization and deregulation of the airline market . A series of short-lived airlines sprung up during this decade ( in the style of Russian Babyflots ) , stated-owned Aeroperú was partly sold to Mexican investors and the rise of low-fare Aero Continente as the biggest domestic airline , contributed to the slow decline of Faucett . A series of high-profile accidents , especially Faucett 's crash in Arequipa and Aeroperú Flight 603 ( both in 1996 ) affected the safety reputation of the Peruvian airline industry , with even the US Embassy in Lima banning their employees from flying on Aero Continente and , more broadly , advising caution to US citizens flying on Peru 's airlines
Aeroperú Flight 603
Aeroperú Flight 603
Faucett Perú