Chile's Lan, Completes Aero 2000 Deal

April 15, 2005

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Chile's dominant carrier, LAN Airlines, and a group of Argentine investors closed their purchase of small Argentine airline Aero 2000, which is currently not operating.

LAN said it purchased 49 percent of Argentine investment group Inversora Cordillera, and, on Thursday, Inversora Cordillera acquired 99.9 percent of Aero 2000, which will provide passenger and cargo transport in Argentina.

LAN did not provide financial details, but said in a statement that the estimated investment was not a significant amount.

LAN has flights all over the Americas, including Argentina, as well as to Europe and Australia, and has affiliate airlines in Peru, the Dominican Republic and El Salvador.

The Argentine airlines market is dominated by Aerolineas Argentinas, which is controlled by Spanish travel group Marsans.