LAN Airlines has confirmed it expects to complete the takeover of TAM Airlines of Brazil in the first quarter of 2012, following conditional approval from regulators. However, the carrier said it would assess the impact of conditions imposed by regulators in Chile.
The proposed merger of LAN Airlines of Chile and Brazilian counterpart TAM Airlines has hit a further delay as a Chilean Constitutional Tribunal confirmed it would delay its decision in the matter.
JetBlue Airways and TAM Airlines, the largest airline in Brazil, have announced a new interline partnership to connect travellers to Brazil and beyond via New York’s John F. Kennedy International Airport and Orlando International Airport.
The proposed merger of Chilean airline to Brazilian rival TAM Linhas Aereas has cleared its next administrative hurdle, with the antitrust unit of Brazil’s finance ministry granting its approval earlier. The body said it believed the deal would not harm competition in the country’s civil aviation market.
Brazilian airline TAM posted a net profit of BRL60.3 million in the three months to June 30th, reversing a BRL174.8 million net loss in the same period last year. Earnings before interest, taxes, depreciation, amortization and lease rentals - a gauge of operational profit in the industry known as EBITDAR - increased to BRL312.8 million from BRL289.2 million.
Rolls-Royce has been among the early winners at the annual Paris Air Show, with the global power systems company concluding a to $2.2 billion contract with TAM Airlines of Brazil. The deal will see the Derby-based manufacturer provide Trent XWB engines for Airbus A350-XWB aircraft on order with the airline.
TAM Airlines is doubling its direct overnight non-stop services to-and-from London Heathrow and Rio de Janeiro (Galeão) from three flights a week to six. The new Rio services start on August 2nd 2011 and compliment TAM’s existing daily overnight Boeing 777 service between London and São Paulo, adding much needed seat and cargo capacity between the UK and South America.
Brazil is paving the way to open its aviation industry up to foreign ownership, in a move aimed at attracting much-needed infrastructure improvements in the build-up to the 2014 World Cup and the 2016 Olympics.
Brazilian National Civil Aviation Agency (ANAC) disclosed today the operational data for the month of March 2011.
TAM Airlines’ international routes from Rio de Janeiro gain new frequencies as of May and August.
Brazilian airline TAM has confirmed it saw a sharp drop in profits during financial 2010, despite an upturn in company turnover. The largest airline in Brazil saw profits fall $362 million, down some 48.9 percent on the previous year, in part due to rising operating costs for fuel, staffing and maintenance.