LAN Airlines, which is in the midst of combining with TAM of Brazil under a holding company structure, is spreading its wings further northward with an agreement to acquire 98.94% of Colombia's Aires for $32.5 million. On Tuesday, LAN reported a third-quarter profit of $106 million. According to LAN, Aires is Colombia's second largest domestic airline with a 22% market share. Founded in 1980, it serves 27 domestic destinations as well as three outside the country with a ...

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