Nuevo Continente was a passenger airline based in Lima, Peru, operating scheduled domestic and international flights out of Jorge Chavez International Airport. Nuevo Continente was founded in 1992 as Aero Continente. Flight operations were launched, initially on regional chartered routes on behalf of Occidental Petroleum, a US-based oil and gas company. Scheduled domestic passenger services commenced in 1993. At that time, the Peruvian airline market was dominated by Faucett and Aeroperu. When Faucett and Aéroperu both went bankrupt in 1999 due to financial difficulties, Aero Continente acquired a monopoly position as the only airline operating on domestic routes in the country. During that period, international routes were launched. This coincided with the foundation of Aero Continente Chile, a wholly owned subsidiary aiming at the Chilean domestic market. Aero Continente Dominicana, a second wholly owned subsidiary based in Santo Domingo, had been founded in late 2001. This short-lived business adventure lasted only roughly one year. In 2004, Aero Continente had its approval to operate into the United States withdrawn. Consequently, all flight operations were ceased. In a come-back effort, the company reacted by changing its ownership structure and adopting the new name Nuevo Continente, but could not get rid of the allegations that it was involved in criminal activities.
Source: Wikipedia
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