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.
At the end of 2012, the combined Fleet consisted of 327 aircraft passenger and cargo aircraft. For the same year, LATAM carried a total of 65 million passengers.
List of Subsidiary Airlines of LATAM
List of Airlines majority and minority owned by LATAM Group through the primary airlines various subsidiaries are as follows:
- Chile: LAN Airlines
- Brazil: TAM Airlines
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