Thursday, October 28, 2010

LAN to buy Aires Columbia

Aires Columbia 737-73V (32415/1260) G-EZJT (tbr HK-4675).
(Photo by Keith Burton)

Chile's dominant airline LAN said on Wednesday it has agreed to purchase Colombian airline Aires for USD$33 million.

LAN said in a release it could take between 30 and 60 days to finalise the acquisition.

The move comes on the back of third quarter results on Tuesday which showed net profit more than doubling from a year ago to USD$106.2 million on the strength of its passenger and cargo business.


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