Local Chilean airline PAL said on Monday it had appealed to the country's supreme court over an antitrust regulator's approval of Chilean airline LAN's LAN.SN (LFL.N) takeover of Brazilian carrier TAM (TAMM4.SA). The Supreme Court must now decide whether to accept the objection, which could take it up to two weeks. Chile's antitrust tribunal approved LAN's multibillion-dollar tie-up with TAM last month with conditions, paving the way for the creation of one of the world's biggest airlines. PAL had originally leveled a complaint against the deal with Chile's anti-trust regulator, which said last month it would not take it up.
Lan Airlines SA (LAN) is a Chile-based passenger airline and air cargo operator. Shares of LFL fell by 5.38% or $-1.11/share to $19.54. In the past year, the shares have traded as low as $20.56 and as high as $32.68. On average, 482486 shares of LFL exchange hands on a given day and today's volume is recorded at 651687.
