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LATAM Airlines Group

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LATAM Airlines Group S.A.
Company typeSociedad Anónima
BCS: LAN
B3: LATM11
NYSE: LFL
ISINCL0000000423 Edit this on Wikidata
IndustryAviation
Founded2012
HeadquartersSantiago, Chile
Key people
Mauricio Rolim Amaro, (Chairman)
Enrique Cueto, (CEO)
ProductsPassenger flights LAN Airlines, TAM Airlines, etc.
Cargo activity
Aircraft maintenance
ServicesAirline Services
RevenueIncrease US$ 12.4 billion (2014)[1]
Decrease US$ 109.7 million (2014)[1]
Number of employees
53,072 (2014)[1]
SubsidiariesLAN Airlines
TAM Airlines
Websitewww.latam.com
Combined destinations of LAN and TAM

LATAM Airlines Group S.A. is a Latin American airline holding company incorporated under Chilean law with its headquarters Santiago, Chile. The group also has offices in São Paulo, Brazil, with subsidiaries in Argentina, Colombia, Ecuador, Paraguay and Peru.[2][3][4][5][6]

The airlines signed a non-binding agreement on 13 August 2010, a binding agreement on 19 January 2011,[7][8] and papers to close the merger on 22 June 2012, with TAM shareholders agreeing to the takeover by LAN.[9] Enrique Cueto, former CEO of LAN, is CEO of LATAM;[10] Mauricio Rolim Amaro, formerly vice-chairman of TAM, is chairman.[11]

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. However, in August 2015 it was announced that the two airlines would fully rebrand as LATAM, with one livery to be applied on all aircraft by 2018.[12][13]

LATAM's competitors on the South American continent are: Synergy Group's Avianca Holdings; Copa Airlines; Gol Airlines; and Azul Airlines. LATAM is not an airline alliance, but is rather more akin to airline holding companies such as International Airlines Group and Air France-KLM.

Government approvals

The agreement to establish LATAM was approved by Chilean authorities on 21 September 2011, with 11 restrictions. These include transferring four landing slots at São Paulo-Guarulhos International Airport to competitors interested in operating flights to Santiago de Chile's Comodoro Arturo Merino Benítez International Airport; renouncing membership to either the Oneworld or Star Alliance airline alliance; restricting the increase in capacity on flights between Brazil and Chile; and opening code-share possibilities and fidelity program membership to interested competitors.[14] On 14 December 2011, Brazilian authorities approved the agreement, imposing similar restrictions as Chilean authorities: LATAM would have to choose an alliance by August 2012; and frequencies between São Paulo and Santiago de Chile would have to be reduced. At the time TAM had two pairs of slots while LAN had four, LAN had to relinquish two pairs to competitors interested in using them.[15] On 7 March 2013, LATAM announced its final decision to choose Oneworld as its global airline alliance; as a result TAM left Star Alliance during the second quarter of FY2014 to join Oneworld.[16]

Operations

At the end of 2012, the combined Fleet consisted of 310 aircraft passenger and cargo aircraft. For the same year, LATAM carried a total of 65 million passengers.[17]

Subsidiary airlines of LATAM

The airlines majority and minority owned by LATAM Group through the primary airlines' various subsidiaries are as follows:

See also

References

  1. ^ a b c "LATAM Airlines Group SA FY". Google. Retrieved 26 May 2011.
  2. ^ Webber, Jude; Lemer, Jeremy (15 August 2010), "LatAm airlines join consolidation trend", Financial Times, retrieved 16 August 2010
  3. ^ Sobie, Brendan (13 August 2010), "LAN and TAM to merge", Flight International, retrieved 14 August 2011
  4. ^ "Contact." LATAM Airlines Group. Retrieved on 25 January 2013. "Contact Pdte. Riesco 5711, 20th floor Las Condes Santiago, Chile "
  5. ^ http://i.imgur.com/IvRaefc.jpg
  6. ^ http://www.melhoresdestinos.com.br/wp-content/uploads/2015/08/logo_timeline_1024.jpg
  7. ^ "TAM and LAN announce binding agreement". TAM Linhas Aéreas. 19 January 2011. Retrieved 14 August 2011.
  8. ^ "LAN says signs non-binding deal with TAM to merge". Reuters. 13 August 2010. Retrieved 13 August 2010.
  9. ^ "BBC News - Chile's Lan and Brazil's Tam merge to create huge airline". Bbc.co.uk. 1 January 1970. Retrieved 23 June 2012.
  10. ^ "Enrique Cueto to be CEO of new LAN-TAM parent". Flight International. 13 August 2010. Retrieved 14 August 2011.
  11. ^ "LAN and TAM aim to complete merger by mid 2011". Flight Global. 14 August 2010. Retrieved 14 August 2011.
  12. ^ "LAN and TAM to operate as LATAM with a new livery" retrieved 9 August 2015
  13. ^ "LATAM's entire fleet to have new livery by 2018" retrieved 9 August 2015
  14. ^ Seabra, Luciana (21 September 2011). "Tribunal chileno aprova fusão de TAM e LAN com 11 condições" (in Portuguese). Valor Econômico. Retrieved 26 September 2011.
  15. ^ Rodrigues, Eduardo; Froufe, Célia (14 December 2011). "Com restrições, CADE aprova fusão TAM/Lan" (in Portuguese). O Estado de S. Paulo. Retrieved 15 December 2011.
  16. ^ http://www.latamairlinesgroup.net/phoenix.zhtml?c=81136&p=irol-newsArticleMedia&ID=1793569&highlight=
  17. ^ "About Us". Latam Airlines Group. Retrieved 25 January 2014.
  18. ^ "LAN to buy Colombia's Aires for $32.5 million". ATW Online. 28 October 2010. Retrieved 14 August 2011.
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