Latin American carriers LAN and TAM have unveiled plans to merge and create a new single parent company.
Chile-based LAN and Brazil-based TAM announced on 13 August that they have forged "a non-binding memorandum of understanding that outlines their intentions to combine their holdings". The deal is subject to both companies completing a binding definitive merger agreement and securing approval from their shareholders and
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LAN and TAM are the two largest Latin American airline groups by revenue. In addition to its Chilean operations, LAN has passenger airline affiliates in Argentina, Chile, Ecuador and Peru as well as cargo airline affiliates in Brazil, Colombia, Mexico and the US. TAM has passenger airlines in Brazil and Paraguay as well as a Brazilian business aircraft operation that is one of the largest in Latin America.
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For more coverage on LAN/TAM merger |
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Enrique Cueto to be CEO of new LAN-TAM parent
LAN-TAM expect $400m in synergies from merger
LAN and TAM aim to complete merger by mid 2011
LAN and TAM have not yet resolved alliance issue
From the archives |
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Interview LAN chief executive Enrique Cueto (29/10/08)
Latin market poised for revolution (15/02/10)
Comment: Latin liberalisation (30/10/09)
Source: Airline Business
