Arcano From Chile, joined Mar 2004, 2417 posts, RR: 22 Posted (10 years 5 months 2 weeks 4 days 10 hours ago) and read 2794 times:
I know this sound as a tale, but there's a new chance in the horizon for LAN to finally take Argentina.
This March ends the agreement of Southern Winds to manage LAFSA, so a new tender was opened. Besides, the drug scandal inside a A4 aircraft refloated this delayed process.
So LAN has already talked to Argentine authorities, and it became one of the 5 interested in LASFA, among TAM, some Argentine investors, a Mexican investment group and some other Europeans.
"El Diario Financiero" journal of Santiago posted that some Argentine media ("El Cronista" and "Clarin") have recognized that LAN offer sounds the most feasible and serious. Apparently, there is a draft tender porposal already.
LAN has been very discrete about it, probably after the embarrasing American Falcon issue, and they just recognized their interest that remains the same.
Some of the bases could involve about US$27 millions for annual investmente (equivalent to what the Governmet is already investing), plus some inicial investment and the chance of the Goverment for keeping a "golden stock"
EZEIZA From Argentina, joined Aug 2004, 4973 posts, RR: 23
Reply 1, posted (10 years 5 months 2 weeks 4 days 7 hours ago) and read 2713 times:
Yes, as soon as the A4 drug scandal hit the news and K said that LAFSA was for sale, the first name to show up was, of course, LAN. I don't know exactly why LAN's first attempt did'nt work out, but I have a feeling that this time they will be able to get their hand on the much wanted Argentine market.
Marambio From UK - Scotland, joined Oct 2004, 1172 posts, RR: 24
Reply 3, posted (10 years 5 months 2 weeks 4 days 5 hours ago) and read 2647 times:
Good evening gentlemen,
I really tried to find the Diario Financiero article but I couldn't make it. If someone could please paste it or give a link I would be grateful.
There are some things to be said about the LAN's interest in Lafsa. The Argentinian Government has placed some conditions regarding the new owner's position in the future Lafsa Board:
The new owner must take care of the current Lafsa employees for the next 3 years. Layoffs or salary reductions will not be accepted during that period of time.
The Argentinian Government will keep an "acción de oro", i.e. it will have veto power regarding any decision made by the Board.
The Argentinian Government wants the new owner to have 49% of the shares, while the rest would be split among smaller companies, the State and the employees.
This said, LAN is not that desperate about entering the Argentine market, and "no comen vidrio" (local expression meaning they are not stupids).
Understandably they do not want to take care of the whole bunch of Lafsa employees, who besides being lots of people have very high salaries when compared to any other airline in the region, courtesy of the Argentinian taxpayers. LAN also wants 100% of the shares, and doesn't really like the veto power to be kept by the Government.
We'll have to wait and see until this takes some sort of form. Arcano please keep us updated.
Aerolíneas Argentinas - La Argentina que levanta vuelo
FA4AM From Mexico, joined Nov 2004, 36 posts, RR: 0
Reply 4, posted (10 years 5 months 2 weeks 4 days 3 hours ago) and read 2610 times:
Although it makes sense for LAN to be interested in LAFSA, I'm interested in knowing the name of the Mexican investment group, for I cannot think of any mexican entrepreneur that has enough experience as to run an airline... Arcano, could you share that info?
Arcano From Chile, joined Mar 2004, 2417 posts, RR: 22
Reply 5, posted (10 years 5 months 2 weeks 2 days 8 hours ago) and read 2507 times:
Quoting EZEIZA (reply 1): I don't know exactly why LAN's first attempt did'nt work out
LAN announced several times that the purchase of American Falcon was almost done, and at last time they had to recognize that they lost it, which was kind of embarrasing
Quoting Marambio (reply 3): I really tried to find the Diario Financiero article but I couldn't make it. If someone could please paste it or give a link I would be grateful...... LAN is not that desperate about entering the Argentine market
Sorry Marambio, El Diario Financiero does not have direct address for each news, this is why I couldn't post it as I wanted.
As for LAN beintg desperate, I think not a single airline will be enoughly desperate for doing a bad business, but Argentina IS priority. I think LA starts to salivate every time they think in a SCL-EZE-MAD or a SCL-EZE-MIA flight... imagine finally the EZE-MAD leg would be attended for such a quality oriented airline, with PTV's, fine wines and smart seats for all...
Another question here, if LA can make it, there will be demand for more aircraft, since the 6 343s might not be enough. Could a 744 suit for a SCL-EZE-MAD under LAN colors? it would be gorgeous, wouldn't it?