LAN Airlines has confirmed it will acquire the outstanding shares of Colombian airline AIRES, through the purchase of its parent entities. In a deal worth approximately US$32.5 million, Chilean LAN will acquire the remaining 98.94 per cent of the rival South American carrier.
As many as 3,000 international passengers are stranded on the Colombian island of San Andres following a plane crash earlier this week. A United States National Transportation Safety Board team has arrived to examine the crash site alongside local officials.
All but one of 126 passengers and five crew survived a devastating accident yesterday when the fuselage of a Boeing 737 broke into three pieces upon crash landing on the Colombian island of San Andres during an electrical storm.