Photo Courtesy of LAN Airlines S.A.
LAN and TAM have completed their transaction and have officially created LATAM Airlines Group S.A.
LAN Airlines S.A. (which has been renamed LATAM Airlines Group S.A.) and TAM S.A. report that they have successfully completed the exchange offer and mergers through which they have combined their businesses and created the LATAM Airlines Group S.A. LATAM Airlines Group S.A. will offer passengers more flights to more destinations than any other affiliated group of airlines in South America, initially reaching about 150 destinations in 22 countries and transporting cargo to 169 destinations in 27 countries.
Enrique Cueto, Executive Vice President-CEO of LATAM Airlines Group and Mauricio Rolim Amaro, Vice Chairman of TAM S.A. have released statements:
"The creation of this group of airlines is an opportunity to take South America to the world and to allow us to position ourselves to operate in an increasingly competitive environment due to the continuing consolidation of the global airline industry," said Enrique Cueto, Executive Vice President-CEO of LATAM Airlines Group.
"The growth LATAM Airlines Group is expected to generate will allow us to offer flights to new destinations for our customers, create more opportunities for our more than 51,000 employees and greater value for shareholders. In addition, we can support the economic, social and cultural development of our region, improving the connectivity of passengers and cargo in South America and the rest of the world," said Mauricio Rolim Amaro, Vice Chairman of TAM S.A.
[Edited 2012-06-22 06:56:49]