LAN and TAM announced their intention to combine their operations on Friday. The new group, to be known as LATAM Airlines Group, will be among the leading airlines of the world. The announcement states that TAM will no longer have shares traded in Brazil and in New York. LAN will have its name changed to LATAM. TAM shares will exit BOVESPA (São Paulo Stock Exchange) and the New York Stock Exchange...
As PhoCusWright predicted at the beginning of 2010, the online travel channel in Latin America is where big changes are about to happen. The travel industry in Latin America is still largely dominated by traditional offline channels. But regional and global companies are waking up to the online travel opportunity. Online travel adoption is steadily growing. Local players are in the lead and growing...
The Global Information Technology Report produced by World Economic Forum and INSEAD explores the extent to which 133 developed and developing economies worldwide, representing over 98 percent of global GDP, benefit from latest ICT (information and communication technology) advances for increased competitiveness. The latest 2009–2010 report highlights the presence of four Latin American countries...
As we have been reporting through PhoCusWright Connect, Latin American airlines performed superbly during the economic crisis. This was confirmed again by IATAs CEO, Mr. Bisignani, and yesterday in Santiago de Chile at the International Fair for Air and Space FIDAE 2010. IATA backs up a strategy for the region that focuses on six priorities: safety, security, cost reduction, environmental responsibility...
This ends the story we have followed in recent posts: A shake up for the Latin American air sector and Latest news about Chilean airline LAN Ignacio Cueto, LAN’s owner and general manager, said it will not be a foreign airline that will acquire up to 11.3% of the shares that were still held by Sebastian Piñera. This rules out the possibility that Avianca, Taca or TAM would join the company....
On March 9th, the ANAC in Brazil publicly informed its decision. Aerolineas Argentina’s flights operating from the domestic airport in Buenos Aires are not authorized to land in Brazil. The Metropolitan Airport Jorge Newbery, is Buenos Aires` domestic airport, situated “very near” the city center of Buenos Aires, as described in their official website. This airport historically serves the country’s...
Surprisingly the Cueto family finally decided to purchase only 8.56% of the shares from president-elect Sebastián Piñera. Originally, 21.18% of LAN shares were offered by Piñera to the Cueto family worth $US 1,230 million. The Cueto’s, who already owned 25.5% of the company, now own 34.04% of LAN. The new President-Elect from Chile, billionaire Sebastian Piñera, delivered on campaign promises...
The OAG report from February 2010 indicates that Latin American air services continue to expand within the region, with 185,970 flights scheduled for February 2010. This reflects an increase of 12% (19,891 more flights). Capacity also shows a positive growth of 15% with 2,563,551 seats on offer. Operations to and from Central and South America have increased 6% in frequency and 5% in capacity year...
No, not in San Antonio TX , not in Vail CO. According to the Observatory of Tourism about 858,000 tourists a year visit the 15th-century Inca ruins of Machu Picchu. The Inca hiking trail (about 7,700 feet above sea level) and the Machu Picchu fortress were closed after torrential rains triggered landslides in January after the longest period of heavy rain in 20 years in Peru’s southern Andes . Peru’s...
The last decade has seen a tourist boom in Latin America which has spurred a multitude of new hotel projects. As a result, Latin America now has traditional international properties, regional chains and independent hotels that each add to the vibrant market mix. Both large projects and small developments are seeking to attract a share of the growing demand. Real estate is scarce enough in major cities...