LAN Completes TAM Takeover To Form LATAM
Chile’s LAN Airlines said on Friday 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 USD$170 million and USD$200 million in the first 12 months of the newly merged airline.
It sees annual synergies rising to between USD$600 million and USD$700 million as of the fourth year of LATAM’s existence.
(Reuters)
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