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LAN to acquire Colombia’s Aires

29 October 2010

LAN has unveiled plans to acquire Colombian carrier Aires, only hours after it informed analysts of its plans to exercise its option to buy Colombian start-up AerOasis.

The Chile-based airline group in a statement issued late on 27 October says it has forged an agreement to acquire 99% of Aires for about $32.5 million. It says the deal is subject to regulatory approvals and due diligence, which it estimates will take 30 to 60 days.