TAM A320. Photo: Courtesy, Airbus. Brazil's TAM Linhas Aereas, which has announced an agreement to merge with Chile's LAN Airlines, reported first-quarter net income of BRL128.8 million ($78.6 million), a major turnaround from a loss of BRL70.9 million in the year-ago period. Total operating revenue rose 16.8% to BRL3.04 billion, driven by a 7.2% rise in passenger revenue to BRL2.21 billion and growth at the carrier's separately traded loyalty program Multiplus, which ...

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