Latam Airlines Group, made up of Chilean and Brazilian investors, ended last year with losses of 219 million dollars. However during the same period the Cueto family investment group, identified as Costa Verde Aeronautica, CVA, suffered even higher losses, 414 million dollars, mostly because of the performance problem of the largest Latin American airline.
LATAM Airlines Group will consolidate all its carriers, including Lan Airlines and Tam Linhas Aéreas S.A., into a single brand over the next three years, the company announced Thursday. Since Lan and Tam merged in 2012, they've operated as separate brands, but the parent company's goal has been to provide a carrier that can provide seamless coverage to the entire South American continent.
South African Airways (SAA) and Brazilian carrier TAM Airlines have signed a codeshare agreement to increase access to destinations in both countries for both leisure and business travellers.
Chilean Foreign minister Alfredo Moreno said that flag carrier Aerolíneas Argentina can access the Chilean domestic market whenever they wish, discarding any impediments or veto to such an option.
Argentine officials publicly stated on Thursday there was no intention of expelling any commercial airline from the country because Aerolineas Argentinas is working well, but called on Latam to help the Argentine flag carrier with reciprocity in Chile and Brazil.
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.
Lan Chile went to court in Argentina on Monday to appeal its eviction from a hangar at the metropolitan Buenos Aires Aeroparque airport, which is a crucial element of its national and regional operations. Several unions have anticipated that if the eviction is not stopped they will go on strike and interrupt domestic flights.
Lan Chile admitted the company had to yield to the demands from the Argentine company Intercargo, which monopolizes ground services in all the country’s air terminals, so that they could resume normal traffic in Argentina. It also said that it was not leaving Argentine but would review future investments and expects more common sense from local authorities.
Chilean company Lan Airlines said on Saturday it was “gradually resuming” domestic and international flights in Argentina that it had suspended on Friday due to a conflict with state-run Intercargo company. Intercargo said it had re-established the service to Lan after the airline agreed to cancel a debt.
LAN Chile halted on Friday all its flights in Argentina until Saturday morning after the state company Intercargo which provides ground support for the airline, unilaterally decided to cancel the service despite court orders to the contrary.