Chile LAN completes TAM takeover, forms LATAM Air

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Chile LAN completes TAM takeover, forms LATAM Air

Unread post by bimjim » Sun Jun 24, 2012

http://www.stabroeknews.com/2012/news/r ... latam-air/

Chile LAN completes TAM takeover, forms LATAM Air
Saturday, June 23, 2012

SANTIAGO, (Reuters)

Chile’s LAN Airlines said yesterday it has successfully taken over Brazil’s TAM to create LATAM Airlines group, which will be Latin America’s largest airline.

The Chilean airline said it forecasts synergies with TAM will be between $170 and $200 million in the first 12 months of the newly merged airline. It sees annual synergies rising to between $600 and $700 million as of the fourth year of LATAM’s existence.

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