LAN Airlines said Thursday that Chile’s Supreme Court has confirmed Chilean antitrust tribunal TDLC’s approval of the carrier’s proposed merger with Brazil’s TAM under LATAM Airlines Group, though the court rejected LAN’s appeal of three of the 14 conditions imposed on the merger by TDLC.
The Supreme Court ruling is believed to be one of the final steps toward closing the transaction .
TDLC tied its approval of the merger, issued last October, to a number of “mitigation measures.” The measures appealed to the Supreme Court by the airline included restrictions to LAN’s access to Lima, a requirement pertaining to codeshare agreements and a mandate for LAN to give “unrestricted” access to much of its internal data to an outside consultant.
The court rejected the appeals, none of which involved issues considered critical to the combination’s completion, but cleared the merger. LAN said Thursday it would “continue to move forward with the merger,” but did not provide a specific closing date.
Article Source : ATW Daily News
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