LATAM Airlines Group
|Traded as||BCS: LAN
BM&F Bovespa: LATM11
|Key people||Mauricio Rolim Amaro, (Chairman)
Enrique Cueto, (CEO)
|Products||Passenger flights Lan Airlines, TAM Airlines, etc.
|Revenue||US$ 10.0 billion (2012)|
|Net income||US$ 11.0 million (2012)|
LATAM Airlines Group, or LATAM (BCS: LAN / BM&F Bovespa: LATM11 / NYSE: LFL), is a Latin American airline holding company incorporated under Chilean law with its headquarters at Las Condes, Santiago Metropolitan Region, Chile. The group has offices in Pudahuel, Santiago, and in São Paulo, Brazil, with subsidiaries in Argentina, Colombia, Ecuador, Paraguay and Perú.
The two airlines fly with separate liveries and certificates, a policy to be continued in the short term, but expect substantial synergies from merging their operations. Enrique Cueto, former CEO of LAN, is CEO of LATAM; Mauricio Rolim Amaro, formerly vice-chairman of TAM, is chairman.
The airlines signed a non-binding agreement on 13 August 2010, a binding agreement on 19 January 2011, and papers to close the merger on 22 June 2012, with TAM shareholders agreeing to the takeover by LAN.
LATAM's competitors on the South American continent are: Synergy Group's AviancaTaca Holding; Copa Airlines; Gol Airlines; and Azul Trip. LATAM is not an airline alliance, but is rather more akin to airline holding companies such as International Airlines Group and Air France-KLM.
Latam agreement was approved with 11 restrictions by Chilean authorities on 21 September 2011. These include transferring 4 slots at São Paulo-Guarulhos to competitors interested in operating flights to Santiago de Chile, renouncing membership to either Oneworld or Star Alliance, restricting increase capacity on flights between Brazil and Chile, and opening code-share possibilities and fidelity program membership to interested competitors. On 14 December 2011, Brazilian authorities approved the agreement imposing similar restrictions as Chilean authorities: LATAM will have to choose an alliance by August 2012 and frequencies between São Paulo and Santiago de Chile will have to be reduced. Presently TAM has two pairs of slots while LAN has four. LAN will have to cease two pairs to competitors interested in using them. On 7 March 2013, LATAM announced its final decision to choose Oneworld as its global alliance of choice, and thus, TAM will be leaving Star Alliance during the second quarter of FY2014, to join Oneworld.
In August 2010, LAN and TAM said they had a combined fleet of over 240 aircraft, with more than 220 additional aircraft currently on order. Synergies are expected to lead to network expansion rather than reduced orders.
|Airbus A330-200||20||2||223 (4/36/183)|
|Airbus A340-300||5||0||260 (42/218)|
|Boeing 767-300ER||38||7||221 (30/191)|
|Boeing 777-300ER||8||2||362 (4/56/302)|
|Boeing 787-8||3||22||247 (30/217)|
List of Subsidiary Airlines of LATAM group
List of Airlines majority and minority owned by LATAM Group through the primary airlines various subsidiaries are:.
- Chile: LAN Airlines
- Brazil: TAM Airlines
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- "Contact." LATAM Airlines Group. Retrieved on 25 January 2013. "Contact Pdte. Riesco 5711, 20th floor Las Condes Santiago, Chile "
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