LATAM Airlines Group and TAM AIRLINES Statement
OREANDA-NEWS. LATAM Airlines Group S.A.and its affiliates and TAM Airlines S.A. announce that they have accepted the proposal of the Government of Venezuela in regards to the repatriation of funds equivalent to the total owed money for fiscal year 2013 for all carriers of the group.
The total debt owed is approximately USD 148 million, which will be rendered per the payment plan proposed by the Government of Venezuela which has been accepted by LATAM Airlines Group and its affiliates and TAM Airlines.
Sobre LATAM Airlines Group S.A.
LATAM Airlines Group S.A. is the new name given to LAN Airlines S.A. as a result of its association with TAM S.A. LATAM Airlines Group S.A. now includes LAN Airlines and its affiliates in Peru, Argentina, Colombia and Ecuador, and LAN Cargo and its affiliates, as well as TAM S.A. and its subsidiaries TAM Linhas Aereas S.A., including its business units TAM Transportes Aereos del Mercosur S.A., TAM Airlines (Paraguay) and Multiplus S.A.
This association creates one of the largest airline groups in the world in terms of network connections, providing passenger transport services to about 135 destinations in 24 countries and cargo services to about 169 destinations in 27 countries, with a fleet of 319 aircraft. In total, LATAM Airlines Group S.A. has more than 51,000 employees and its shares are traded in Santiago, as well as on the New York Stock Exchange, in the form of ADRs, and Sao Paulo Stock Exchange, in the form of BDRs.