LAN A320. Photo: Courtesy, Airbus. LAN Airlines said it signed a definitive agreement to purchase 98.94% of Colombia's Aires for $12 million in cash and the assumption of $100 million in net liabilities including $18 million of bank debt. In October LAN announced that it would be taking over Colombia's second largest domestic airline, which has a 22% market share (ATW Daily News, Oct. 29). "This transaction will provide the opportunity for an affiliate of LAN to ...

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