F LATAM: PASSENGERS CARRIED OLLOWING the merger betweenLan Chile and TAM to form SouthAmerica’s leading multinationalairline group, LATAM underwenta comprehensive (and profitable)transformation between 2015 and2019. Balked by Chile’s refusal to allowan immunised JV with Americanand IAG, it left the oneworld allianceafter 20 years’ membership to hitchup with Delta and form a JV with itsnew partner (which would hopefullybe acceptable to the competitionauthorities). In the process Deltamade a successful public tender for20% of LATAM’s equity in December2019, making it the largest singleshareholder; the Cueto Group, formermajority shareholder in LanChile, and the Amaro Group, formercontrollers of TAM, adjusted theirvarious holdings to 16% and 6%respectively (Qatar Airways held onto its 10% stake). It was all lookingquite exciting (see Aviation StrategyDec 2019).
展开▼
