Bank Of Baku

Largest airline formed in Latin America

Largest airline formed in Latin America
# 14 August 2010 11:33 (UTC +04:00)
Baku – APA. Largest airline companies of Chile and Brazil - LAN and TAM have announced merger plans. They signed a memorandum of understanding about consolidation on Friday, APA reports. The new company will be named LATAM Airlines.
The merged airlines will operate 115 destinations with a fleet of 241 planes and 40,000 employees.
After the announcement, Brazilian and Chilean airlines’ shares rose 27% and 8% on the stock markets. The experts said LATAM Airlines would be a largest airline company in Latin America. TAM Airlines operates 43% of domestic flights. Total incomes of the two companies were $8.6 billion in 2009.
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THE OPERATION IS BEING PERFORMED