With the agreements already in place with Uruguayan, Colombian and Brazilian authorities, Chile's antitrust court has given its approval to LATAM's plan to strengthen its ties with American Airlines Group, and IAG's British Airways and Iberia Airways. Approval relates to both passenger and cargo planes, all four carriers being members of the OneWorld Alliance.
Enrique Cueto, LATAM Chief Executive commented: “This decision sets an important precedent for commercial aviation in our region. As has been shown in other parts of the world where these alliances already exist, it represents an opportunity to ensure the growth of the industry, increase passenger traffic and generate more tourism and business travel and bolster the economy.”
The joint business agreements (JBAs) will enable the airlines to coordinate schedules and prices for flights, similar to the North Atlantic revenue-sharing agreement which already exists between IAG and American Airlines.
LATAM Airlines Group SA (LATAM), headquartered in Santiago, Chile is seen to be South America's largest airline with subsidiaries in Argentina, Brazil, Colombia, Peru, Ecuador and Paraguay. The company was formed in 2012 after the takeover of Brazil's TAM Airlines by Chile's LAN Airlines.
