Pursuits
Lan’s Purchase of Tam Cleared by Chile Court With Conditions
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Lan Airlines SA’s planned purchase of Brazil’s Tam SA to form the world’s second-biggest carrier by market value was approved by Chile’s antitrust tribunal with several conditions.
Tribunal de Defensa de la Libre Competencia, or TDLC as the court is known, gave final Chilean clearance for the transaction in a split vote, according to a statement sent by e-mail today. Conditions include Lan and Tam opening up their frequent flyer program to other airlines, exiting one of their global alliances and capping Santiago-Sao Paulo fares until they exchange four daily slots in Sao Paulo’s Guarulhos airport with other carriers. The tie-up still requires Brazilian approval.