TAM released more details about last week's global IPO in New York and Sao Paulo that netted the Brazilian carrier close to R$1.5 billion ($706.3 million), which will be used "entirely to finance its activities," the company said. Fleet renewal and expansion, through purchase and lease, will consume 80% of the proceeds. TAM currently operates 59 A319s/A320s, eight A330s and 18 Fokker RJs. It has 29 additional A320s under firm order and expects to take delivery of 11 through 2009. The ...

Subscribe to Access this Entire Article

"TAM to funnel 80% of IPO proceeds into fleet" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.