Chile’s Lan and Brazil’s Tam merge to create huge airline
24 June 2012Chile’s Lan airline has completed a takeover of Brazil’s Tam, creating the world’s second largest airline by market value, to be known as Latam.
After two years of negotiations, Tam shareholders agreed to the takeover.
The new company will have its headquarters in the Chilean capital, Santiago.
Brazil and Chile have enjoyed years of economic growth, which has brought about a massive increase in air travel but also recently tougher competition.
source: BBC.co.uk
