Lan Airlines SA, Latin America’s biggest carrier by market value has agreed to buy Colombia’s low cost airline Aires in a deal worth $32.5 million.
Lan Airlines has agreed to acquire 99 percent of the airline through the purchase of its controlling shareholders. Lan Airlines, which is expanding in Latin America as regional passenger and cargo traffic recovers, plans to invest $7.72 billion through 2018 to more than double its fleet and has already agreed to buy Brazil’s Tam Airlines earlier this year. Aires isthe second- largest operator in Colombia’s domestic market and is detined to become part of LATAM Airlines, the company to be formed from the Lan- Tam consolidation.
this is a sign of the continuing consolidation in the Latin American Airline market following the formation of the Aviance/TACA plus AeroGal group and the coming together of COPA and AeroRepublica.
Lan Airlines has agreed to acquire 99 percent of the airline through the purchase of its controlling shareholders. Lan Airlines, which is expanding in Latin America as regional passenger and cargo traffic recovers, plans to invest $7.72 billion through 2018 to more than double its fleet and has already agreed to buy Brazil’s Tam Airlines earlier this year. Aires isthe second- largest operator in Colombia’s domestic market and is detined to become part of LATAM Airlines, the company to be formed from the Lan- Tam consolidation.
this is a sign of the continuing consolidation in the Latin American Airline market following the formation of the Aviance/TACA plus AeroGal group and the coming together of COPA and AeroRepublica.
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