LATAM To Spend USD$7.87 Bln On Fleet

August 13, 2012

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Chile's newly merged regional carrier LATAM Airlines said on Monday it would spend USD$7.87 billion on its fleet by 2014.

LAN Airlines completed a takeover of Brazilian rival TAM in June, creating the world's second-largest airline by market value, in a deal that executives expect to yield up to USD$700 million in annual cost savings within four years.