The story
LANSA was founded in 1963, and began flight operations in January 1964 with internal connections. In 1965 33.3% was bought by Eastern Air Lines. From May to September 1966, the company suspended its flight activities while undergoing far-reaching reorganization and passed completely under Peruvian control. With the arrival of the NAMC YS-11 in 1967, LANSA increased the number of flights to 9 national airports, including Cuzco and Iquitos.
By January 4, 1972, the Peruvian government revoked LANSA's operating certificate. The airline had already ceased all operations, following the crash of Flight 508 in which its last airworthy Lockheed L-188 Electra was lost on December 24, 1971. All other aircraft had already been phased out, were lost in accidents or grounded in Lima as inoperative.
From Wikipedia’s article on LANSA (Peru), shared under CC BY-SA 4.0.3