Chile Court Approves LATAM, IAG Agreement
A Chilean competition court has given the nod to the proposed business agreement between LATAM Airlines Group, American Airlines, and Iberia and British Airways parent IAG.
A LATAM statement said the country’s Free Competition Defence Court had approved joint business agreements between the carriers. The JBAs apply to passenger and cargo businesses.
“This decision, in principle, is an important precedent for aviation in our region,” LATAM Group chief executive Enrique Cueto said. “As has been demonstrated in other parts of the world where JBAs are already a reality, this is an opportunity to ensure growth for the industry, increase passenger traffic and bring Chile closer to the world.”
It will also promote tourism, business travel and the economy through aviation, Cueto added.
LATAM said it is analysing the implications of the court's mitigation measures and will announce its position once the evaluation is complete.
The joint business agreements have already been approved by the regulatory bodies of Brazil, Colombia and Uruguay.