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.
Chilean flag-carrier LAN SA and Brazil's TAM SA have unveiled senior management changes as their plan to merge advances. The merger is expected to be completed in the first quarter, and will see the two airlines taken over by a new holding company, LATAM Airlines Group, the companies said in a statement.