Help for Aero-Peru

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LIMA--American Airlines has signed a letter of intent with Aero-Peru, Peru's failing airline, raising hopes that the company will be saved from bankruptcy.

Jaan Albrecht, Aero-Peru's general manager, has announced that American Airlines is studying the possibility of purchasing a large chunk of Aero-Peru. He says the letter of intent does not commit the U.S. company to an agreement.

Once Peru's flagship airline, Aero-Peru has been on the brink of bankruptcy since Jan. 14, when its major shareholders, Aeromexico and Delta Airlines, rejected a plea for an additional $10 million to keep the company afloat.

Aero-Peru has just launched an ad campaign, thanking customers for continuing to fly with the company despite it problems.

The campaign, designed by Interandina, which just joined the TBWA family, is aimed at playing up Aero-Peru's record. In January 1999, Aero-Peru transported 145,438 passengers, had a 70% occupation rate and 95% of its flights arrived on time.

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