Arcano
Topic Author
Posts: 2299
Joined: Mon Mar 22, 2004 4:34 am

LAN Goes For Argentina Again

Sat Feb 19, 2005 4:36 am

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"

Some Links:

http://www.diariofinanciero.cl (search by "LAN", in spanish Feb18, 05)
http://www.clarin.com/diario/2005/02/16/elpais/p-01401.htm
http://old.clarin.com/diario/2005/02/17/policiales/g-04202.htm

Regards )( Arcano
in order: 721,146,732,763,722,343,733,320,772,319,752,321,88,83,744,332,100,738, 333, 318, 77W, 78, 773, 380, 73G, 788, 789, 346
 
EZEIZA
Posts: 4421
Joined: Sat Aug 21, 2004 12:09 am

RE: LAN Goes For Argentina Again

Sat Feb 19, 2005 8:04 am

Hola Arcano!

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.

saludos
Carp aunque ganes o pierdas ...
 
rootsair
Posts: 4012
Joined: Sun Feb 06, 2005 3:25 am

RE: LAN Goes For Argentina Again

Sat Feb 19, 2005 9:01 am

It would be better if TAM got it .. perhaps cause I'm a TAM fan
A man without the knowledge of his past history,culture and origins is like a tree without roots
 
Marambio
Posts: 1145
Joined: Wed Oct 13, 2004 9:41 am

RE: LAN Goes For Argentina Again

Sat Feb 19, 2005 10:03 am

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.

    Saludos,
    Marambio
    Aerolíneas Argentinas - La Argentina que levanta vuelo
     
    FA4AM
    Posts: 33
    Joined: Sun Nov 28, 2004 3:10 pm

    RE: LAN Goes For Argentina Again

    Sat Feb 19, 2005 12:12 pm

    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
    Topic Author
    Posts: 2299
    Joined: Mon Mar 22, 2004 4:34 am

    RE: LAN Goes For Argentina Again

    Mon Feb 21, 2005 6:35 am

    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.

    But I made the whole job and here it is!
    http://www.eldiario.cl/shnoti.asp?noticia=5131

    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?

    Quoting FA4AM (reply 4):
    Arcano, could you share that info?


    "El Mercurio" Informed that it was Mexicana, which doesn't make much sence for me. I'll let you know

    Regards )(
    in order: 721,146,732,763,722,343,733,320,772,319,752,321,88,83,744,332,100,738, 333, 318, 77W, 78, 773, 380, 73G, 788, 789, 346
     
    Derico
    Posts: 4209
    Joined: Mon Dec 20, 1999 9:14 am

    RE: LAN Goes For Argentina Again

    Tue Feb 22, 2005 1:36 am

    Hi Arcano,

    I sent you a contact e-mail regarding an inquiry related to Chile. Thank you for your help in advanced.
    My internet was not shut down, the internet has shut me down

    Who is online

    Users browsing this forum: Ammad, AS512, Baidu [Spider], Bing [Bot], blooBirdie, BreninTW, calpsafltskeds, cougar15, D328, Dasa, deltacto, flydia, flyguy89, Goodbye, GrayMatter, ikolkyo, Mani87, Miami, n729pa, obla, ScroogeMcDuck, StTim, tigerair737, UAEflyer and 250 guests