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TAM acquires regional airline

22-Dec-2009 11:36 AM

TAM announced (21-Dec-2009) it acquired all shares of the capital stock of bankrupt Brazilian regional airline Pantanal Linhas AĆ©reas SA on 19-Dec-2009. As compensation for the acquisition of such shares, TAM will pay to the sellers the amount of USD7.3 million. [more] The move, subject to regulatory and antitrust approval, will expand TAM's presence in regional markets and increase its portfolio of slots at Sao Paulo Congonhas Airport.