LAN Airlines shareholders agree TAM merger

LAN Airlines shareholders agree TAM merger

Shareholders in LAN Airlines of Chile have approved the planned takeover of TAM Airlines of Brazil.

The decision was a formality and clears the way for the creation of the largest airline in South America and a major international carrier.

Brazil’s antitrust agency – the Council for Economic Defence (CADE) approved the takeover of TAM last week, following the green light from Chilean regulators in September.

LATAM Airlines Group – as the combined carrier will be know – will be created following a share swap scheduled for the first quarter of next year.