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News Breaks | | | | June 11, 2012 | | 12:06 EDT |  | TAM, LFL | Brazilian airlines TAM falls ahead of auction, merger with Chile's LAN
Brazil's TAM Airlines (TAM) is sliding ahead of an auction for its shares scheduled to be held tomorrow morning at 9 am ET. The auction is part of the process of a merger between TAM and Chilean airlines LAN (LFL). The auction comes after an exchange offer for TAM's shares was launched on May 10. The exchange offer is slated to end today at 5 pm ET. In late morning trading, TAM slid $1.09, or 4.94%, to $20.97, while Lan added 11c to $25.52. | |
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News For TAM;LFL From The Last 14 Days Check below for free stories on TAM;LFL the last two weeks. |
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| May 10, 2013 | | 16:51 EDT | | LFL | LATAM Airlines reports preliminary April traffic down 1.1%
System passenger traffic decreased 1.1% as capacity rose 0.1%. As a result, the company's load factor for the month decreased 0.9 points to 77.0%. International passenger traffic accounted for approximately 53% of the month's total passenger traffic. International passenger traffic decreased 0.6%, while capacity increased 5.0%. Accordingly, the international passenger load factor for the month decreased 4.5 points to 80.2%. International traffic includes international operations of both LAN and TAM on regional and long haul routes. Cargo traffic rose 10.0% as capacity increased 7.1%. As a consequence, the cargo load factor increased 1.6 points to 61.2%. The growth in cargo capacity is a result of an increased availability in the belly of passenger aircrafts. The increase in cargo traffic was mainly driven by delayed seasonal demand. | |
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