History
TACA was founded in 1931 by New Zealander Lowell Yerex. The idea of its founder was to establish one airline in each Latin-American country, such as Aerovias Brasil in Brazil and other TACAs in Mexico, Venezuela, and Colombia.Out of all the TACA franchise airlines created, only TACA International of El Salvador survived, and has now ventured in acquisitions and has helped launch airlines such as the Mexican Volaris and has 49% shares in TACA Peru.
Until 1980, TACA was owned by a United States company and had its corporate headquarters in New Orleans, Louisiana (due to the civil war raging in El Salvador) in 1980 the Kriete Family of El Salvador who owned a minority stock completed buying all the shares. The headquarters returned to San Salvador, El Salvador to a new building which was inaugurated in 2008.
Between 1989 and 1995, TACA bought the majority shares of the flag carrier airlines of Guatemala (AVIATECA), Costa Rica (Lacsa), and Nicaragua (NICA), consolidating operations under a new brand name, Grupo TACA. In 2008, Roberto Kriete and the board of directors decided to revert back to the original name, TACA International Airlines, since the consolidation of the acquired airlines was completed.
Read more about this topic: TACA Airlines
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