LAN To Buy Colombian Carrier Aires

October 28, 2010

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Chile's dominant airline LAN said on Wednesday it has agreed to purchase Colombian airline Aires for USD$33 million.

LAN said in a release it could take between 30 and 60 days to finalise the acquisition.

The move comes on the back of third quarter results on Tuesday which showed net profit more than doubling from a year ago to USD$106.2 million on the strength of its passenger and cargo business.