Chile's LAN Airlines CEO will pay a US$75,000 fine to settle charges that he authorized improper payments to Argentina union officials to persuade them to ease their demands in a labor dispute, the U.S. Securities and Exchange Commission.
An Argentine judge on Wednesday granted an injunction blocking the eviction of LAN Argentina, a unit of Chile-based LATAM Airlines Group, from its hangar at Buenos Aires Jorge Newbery Airport, which handles domestic and regional flights.
Chilean flag carrier LAN became the fourth airline in the world – and the first airline in the Americas –to take delivery of a Boeing 787 Dreamliner. The handover ceremony took place at Boeing 787 production line at Everett, state of Washington.
Chile's LAN Airlines completed a takeover of Brazilian rival TAM on Friday, creating the world's second-largest airline by market value in a deal that executives expect to yield up to 700 million dollars in costs savings within four years.
Chile Lan Airlines planned 3.2 billion dollars acquisition of Tam SA was approved by Brazil’s antitrust regulator, clearing the final regulatory hurdle for the formation of the world’s second-largest carrier.
LAN Airlines, Chile’s flag carrier made the official launching of its fourth affiliate under the name of Lan Colombia, becoming the second largest airline in the country with 22 domestic destinations, including Cartagena, Cali and Medellín.
LAN Airlines said it hopes its multibillion-dollar takeover of Brazil's TAM will be completed in the first quarter of 2012, but it is studying conditions imposed by Chile's regulator.
Chile's LAN Airlines will seek another partner or explore other options to expand internationally if a local antitrust tribunal rules against a planned merger with Brazil's TAM, according to an interview published by leading daily El Mercurio.
Chile's flag carrier LAN expects its planned merger with Brazil's TAM to clear regulatory hurdles and take flight in mid-2011, a top executive of the Chilean airline said in a radio interview on Friday.