Aviateca is now known as Avianca Guatemala and is a subsidiary of Avianca.
The airline was established in 1929 as Aerovías de Guatemala. In 1945, the airline was nationalized and stablished as Empresa Guatemalteca de Aviación S. A., which was shortened to Aviateca. Aviateca started operations in 1946. Aviateca was under government ownership and remained so until 1989 when it joined the TACA organised Airline Alliance of Central America and was privatised. It was fully integrated into TACA, which later merged with Avianca.
Source: Wikipedia March 2018