Privatisation thumb|A VIASA McDonnell Douglas DC-10-30 at Charles de Gaulle Airport in 1996. The aircraft is wearing the livery used by the company throughout the Iberia management. The red ink continued to flow and, with the new government policies adopted in 1989, Viasa became a target for privatisation. The initial plans of the government were to allocate 60% of the company to private investors, keep 20% of the shares, and transfer the balance to the airline workers. In , Iberia and KLM were approved as bidders in the privatisation process, the former teaming up with Venezuela's Banco Provincial, and the latter partnering with Northwest Airlines and other four local entities. Iberia was the only bidder left with a million offer, after KLM stepped aside citing that a price of million for 60% of the shares was too high.
Privatisation thumb|A VIASA McDonnell Douglas DC-10-30 at Charles de Gaulle Airport i.n 1996 The aircraft is wearing the livery used by the company throughout the Iberia management. The red ink co.ntinued to flow and, with the new government policies adopted in 1989, Viasa became a target for privatisation The initial plans of the government were to allocate 60% of the company to private investors, keep 20% of the shares, and transfer the balance to the airline workers. In , Iberia and KLM were approved as bidders in the privatisation process, the former teaming up with Venezuela's Banco Provincial, and the latter partnering with Northwest Airlines and other four local entities. Iberia was the only bidder left with a million offer, after KLM st.epped aside citing that a price of million for 60% of the shares was too high