LAN, TAM complete merger to form LATAM Airlines Group

Completing their long-awaited merger, Latin American carriers LAN Airlines S.A. and TAM S.A. have formed LATAM Airlines Group S.A.

Although LAN has been renamed LATAM Airlines – serving approximately 150 destinations throughout 22 countries worldwide – the two carriers will continue to operate under their current branding,

The creation of the new group was initialised through an exchange offer and an agreed deregistration and delisting of TAM Airlines as a public company.

“The creation of this group of airlines is an opportunity to take South America to the world and to allow us to position ourselves to operate in an increasingly competitive environment due to the continuing consolidation of the global airline industry,” LATAM Airlines Group chief executive and vice president Enrique Cueto said.

Increased access and connectivity will be the major advantages available to customers, along with improved routes, frequencies and reduced connection times.

“The growth LATAM Airlines Group is expected to generate will allow us to offer flights to new destinations for our customers, create more opportunities for our more than 51,000 employees and greater value for shareholders,” TAM vice chairman Mauricio Rolim Amaro said.

“In addition, we can support the economic, social and cultural development of our region, improving the connectivity of passengers and cargo in South America and the rest of the world.”

From June 27, 2012 frequent flyer members of both airlines will be able to accumulate and redeem points across the entire fleet network of the new LATAM Airlines Group.
Source = e-Travel Blackboard: P.T
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