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LATAM Airlines Group

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Title: LATAM Airlines Group  
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LATAM Airlines Group

LATAM Airlines Group S.A.
Type Sociedad Anónima
Traded as BCS: LAN
BM&F Bovespa: LATM11
NYSE: LFL
Industry Aviation
Founded 2012
Headquarters Santiago, Chile
Key people Mauricio Rolim Amaro, (Chairman)
Enrique Cueto, (CEO)
Products Passenger flights LAN Airlines, TAM Airlines, etc.
Cargo activity
Aircraft maintenance
Services Airline Services
Revenue Increase US$ 10.0 billion (2012)[1]
Net income Decrease US$ 11.0 million (2012)[1]
Employees 52,000 (2012)[1]
Subsidiaries LAN Airlines
TAM Airlines
Website .net.latamairlinesgroupwww
Combined destinations of LAN and TAM

LATAM Airlines Group, or LATAM, is a Latin American airline holding company incorporated under Chilean law with its headquarters at Las Condes, Santiago Metropolitan Region, Chile. The group has offices in Pudahuel, Santiago, and in São Paulo, Brazil, with subsidiaries in Argentina, Colombia, Ecuador, Paraguay and Perú.[2][3][4]

LATAM Airlines Group is the result of the merger between LAN Airlines and TAM Airlines which took place in 2012.

The two airlines fly with separate liveries and certificates, a policy to be continued in the short term, but expect substantial synergies from merging their operations. Enrique Cueto, former CEO of LAN, is CEO of LATAM;[5] Mauricio Rolim Amaro, formerly vice-chairman of TAM, is chairman.[6]

The airlines signed a non-binding agreement on 13 August 2010, a binding agreement on 19 January 2011,[7][8] and papers to close the merger on 22 June 2012, with TAM shareholders agreeing to the takeover by LAN.[9]

LATAM's competitors on the South American continent are: Synergy Group's Avianca Holdings; Copa Airlines; Gol Airlines; and Azul Airlines. LATAM is not an airline alliance, but is rather more akin to airline holding companies such as International Airlines Group and Air France-KLM.

Government Approvals

Latam agreement was approved with 11 restrictions by Chilean authorities on 21 September 2011. These include transferring 4 slots at São Paulo-Guarulhos to competitors interested in operating flights to Santiago de Chile, renouncing membership to either Oneworld or Star Alliance, restricting increase capacity on flights between Brazil and Chile, and opening code-share possibilities and fidelity program membership to interested competitors.[10] On 14 December 2011, Brazilian authorities approved the agreement imposing similar restrictions as Chilean authorities: LATAM will have to choose an alliance by August 2012 and frequencies between São Paulo and Santiago de Chile will have to be reduced. Presently TAM has two pairs of slots while LAN has four. LAN will have to cease two pairs to competitors interested in using them.[11] On 7 March 2013, LATAM announced its final decision to choose Oneworld as its global alliance of choice, and thus, TAM will be leaving Star Alliance during the second quarter of FY2014, to join Oneworld.[1]

Operations

At the end of 2012, the combined Fleet consisted of 327 aircraft passenger and cargo aircraft. For the same year, LATAM carried a total of 65 million passengers.[12]

List of Subsidiary Airlines of LATAM

List of Airlines majority and minority owned by LATAM Group through the primary airlines various subsidiaries are as follows:

See also


References

  1. ^ a b c "LATAM Airlines Group SA FY". Google. Retrieved 2011-05-26. 
  2. ^ Webber, Jude; Lemer, Jeremy (15 August 2010), "LatAm airlines join consolidation trend", Financial Times, retrieved 16 August 2010 
  3. ^ Sobie, Brendan (13 August 2010), "LAN and TAM to merge", Flight International, retrieved 14 August 2011 
  4. ^ "Contact." LATAM Airlines Group. Retrieved on 25 January 2013. "Contact Pdte. Riesco 5711, 20th floor Las Condes Santiago, Chile "
  5. ^ "Enrique Cueto to be CEO of new LAN-TAM parent". Flight International. 13 August 2010. Retrieved 14 August 2011. 
  6. ^ "LAN and TAM aim to complete merger by mid 2011".  
  7. ^ "TAM and LAN announce binding agreement".  
  8. ^ "LAN says signs non-binding deal with TAM to merge". Reuters. 13 August 2010. Retrieved 13 August 2010. 
  9. ^ "BBC News - Chile's Lan and Brazil's Tam merge to create huge airline". Bbc.co.uk. 1970-01-01. Retrieved 2012-06-23. 
  10. ^ Seabra, Luciana (21 September 2011). "Tribunal chileno aprova fusão de TAM e LAN com 11 condições" (in Portuguese). Valor Econômico. Retrieved 26 September 2011. 
  11. ^ Rodrigues, Eduardo; Froufe, Célia (14 December 2011). "Com restrições, CADE aprova fusão TAM/Lan" (in Portuguese). O Estado de São Paulo. Retrieved 15 December 2011. 
  12. ^ "About Us". Latam Airlines Group. Retrieved 2014-01-25. 
  13. ^ "LAN to buy Colombia's Aires for $32.5 million".  

External links

  • LATAM Airlines
  • TAM Airlines
  • LAN Airlines
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