LAN Airlines and TAM said their respective boards of directors have approved "binding agreements" signed by the carriers to form LATAM Airlines Group, the single holding company that will own them both. The transaction bringing the Chilean and Brazilian companies under one structure (ATW Daily News, Oct. 22, 2010) is expected to close in the next 6-9 months, the carriers said, noting that the formation of LATAM "will produce an airline group that will be among the major 10 ...

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