LAN Airlines expects Colombian operations to break even by 2012
LAN Airlines reportedly expects its Colombian operations to break even by 2012 with the carrier to focus on “recovering profitability” at Aires in 1H2011 (Dow Jones, 26-Jan-2011). LAN is currently waiting on approval to finalise its purchase of Aires, a Colombian LCC. LAN’s CFO, Alejandro de la Fuente, stated the carrier is also evaluating the option of operating international routes from Colombia.
Meanwhile, LAN also agreed to sell its Blue Express Intl. SA and Blue Express SA land courier units to Chilean holding company Bethia for USD54 million. Bethia holds an indirect 8% stake in LAN which was acquired after purchasing Axxion SA holding company, previously owned by Chile’s President Sebastian Pinera, for USD425 million.