LAN Airlines promises lower fares: attempt to win approval from antitrust

LAN Airlines has promised lower fares and more competition on key routes shared with TAM in order to win approval for a proposed merger as a regulatory probe nears an end (Reuters/Bloomberg, 26-May-2011). LAN laid out the concessions before Chile's antitrust tribunal, defending the creation of Latin America's largest carrier from a consumer group's challenge. The probe has pushed back the effective date of any merger from 3Q2011 to early-2012 however TAM is confident to receive approval by the end of Jul-2011.