LAN-TAM Spawns LatAm Jumbo
Aug 15, 2010
In a bid to create a LatAm airline fit to compete globally amid increased competition from abroad, Chile’s LAN and Brazil’s TAM have announced plans to merge. The union forms the world’s 15th biggest airline by revenue and 11th biggest by passenger numbers, based on 2009 data, say the companies. Each TAM share will be exchanged for 0.9 LAN shares – a ratio that will not change – and the new partners expect $400m in annual synergies in the all stock deal, announced Friday as a non-binding MoU. Synergies...
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