Beijing, Aug 14 (ANI): Leading South American airlines LAN of Chile and TAM of Brazil have announced merger plans, a deal that, if completed, would result in the largest airline operator in the region.
According to the BBC, LAN has confirmed the agreement, which it said is non-bidding, and added that the new carrier would be called 'Latam Airlines Group'.
TAM announced that the combined airline would fly to 115 destinations in 23 countries, with a 40,000-strong workforce.
If the tie-up goes ahead, it would be headed by LAN boss Enrique Cueto while TAM deputy chairman Mauricio Rolim would be company chairman, BBC reported.
The two airlines, with combined 2009 revenues of 8.5 billion dollars, would each retain their own brands, but operate under a merged parent company.
TAM is a member of the Star Alliance group of airlines, which includes BMI, Lufthansa, SAS and Air China. LAN, on the other hand, is a member of the Oneworld airline alliance, which includes Iberia, British Airways, Qantas and JAL. (ANI)