LAN and TAM one step closer
21 / 09 / 2011
THE merger between Brazil’s TAM Airlines and Chilean LAN Airlines has been approved by Chile’s antitrust court.
The court’s complex resolution has prompted both companies to analyse the implications and impact of the measures imposed by the court.
During the second quarter LAN cargo earnings rose 26.3 per cent to US$406.5 million. The carrier signed a deal in June to buy 20 A320 aircraft worth around $1.7 billion for delivery in 2017-2018, as part of its fleet renewal and expansion plan.
Also in June LAN Cargo and its Brazilian affiliate ABSA proposed $66 million to settle price-fixing conspiracy claims in the US.
A month earlier, TAM added cargo capacity between London (UK) and Rio de Janeiro (Brazil) by doubling its direct overnight non-stop services.