Chilean airline LAN LAN.SN(LFL.N) now expects its takeover of Brazilian airline TAM to be finalized by next March, depending on the resolution of regulatory issues, LAN's chief executive said in a newspaper interview. The Brazilian daily Valor Economico also quoted the CEO, Enrique Cueto, as saying the companies could agree to guarantee lower fares and more slots on key routes to win approval for the deal. He said LAN and TAM originally expected to conclude the merger, which will create Latin America's biggest air carrier, by the end of 2011. But an antitrust review by Chilean regulators has pushed back the effective date of any deal from the 2011 third quarter to early next year, said Cueto, who was interviewed at a seminar in Singapore.
Lan Airlines SA (LAN) is a Chile-based passenger airline and cargo operator. Shares of LFL traded higher by 1.1% or $0.31/share to $28.4. In the past year, the shares have traded as low as $18.08 and as high as $32.68. On average, 356556 shares of LFL exchange hands on a given day and today's volume is recorded at 93173.
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