This is a very, very poor translation but you will get the gist of it!
Will be really interesting if it comes off.
Michael O'Leary, Ryanair's chairman, a company that could compete with LAN Peru. Photo: EFE PAL
withdraws appeal challenging merger between LAN and TAM domestic passenger traffic in LAN increases over 25% during September Peruvian Airlines acknowledges talks with PAL
to compete with LAN Peru announces Pluna Airlines flights to Antofagasta, Calama and Design for View next year másAerolineas LIMA, Oct 26 (Reuters) - Peruvian Airlines expects to close the sale of control of that airline before 15 November to a foreign group, in a deal that was valued at U.S. $ 50 million by its owner said César Cataño.
Peruvian Airlines, which competes in the Peruvian market with a subsidiary of LAN Chile, LAN Peru, has a 16% stake in the airline market in that country, while the figure LAN Chile with a share of at least 60%.
Catano was himself who said that the group interested in buying control of the firm, is comprised of the Irish Ryanair and Aergo.
Representatives from both European airlines were not available to confirm or inquire about the issue, Reuters reported.
The Irish consortium became the Peruvian driver with 65% of the shares of the airline, the ceiling allowed by Peruvian law-Catano said in a telephone conversation.
In less than a month
"Before the November 15 and must be closed this. The decision is made, but they are tallying some points to settle the issue," said the businessman.
The Irish group would seek to establish a "hub" or center of operations in South America through the control of the Peruvian airline, which last August suffered a setback when the government temporarily suspended its operations for the breach of safety standards, he said.
Ryanair is one of the major airlines and recognized among the low cost carriers in Europe, with more than 1,100 routes between 147 airports. It has a fleet of 272 aircraft. Peruvian Airlines, meanwhile, began operations in 2009 with five aircraft covering local routes between Tacna, Iquitos, Lima, Cusco and Arequipa.