LAN to expand fleet
19 / 04 / 2009
CHILE’S LAN Airlines is to invest US$1.4 billion in expanding its fleet to 113 planes between 2009 and 2011. Following this initial investment LAN will then spend $4.3 billion to take its fleet up to 145.
The new purchases will be a mix of lond and short haul as well as a new generation of freighters.
“These investments represent a firm bet on the future, aimed at boosting our competitive advantages,” Chairman Jorge Awad told a shareholders’ meeting.
Awad Also said that LAN will expand its cargo network into Colombia and Brazil to try and head off financial difficulties.
Its cargo traffic fell 24.2 per cent in March year-on-year.
“The development of new markets, the modernity of its fleet and financial solvency will enable LAN to keep producing significant results within global commercial aviation,” said Awad.