Loading
13-Nov-2013 4:08 PM

LATAM sees USD215m in merger synergies to-date, expecting USD300m in synergies in 2013

LATAM Airlines Group achieved (11-Nov-2013) USD215 million to-date in LAN Airlines-TAM Airlines merger synergies, and is expecting to achieve USD300 million in synergies in 2013 and USD600-700 million overall by its target of Jun-2016. Synergy measures include "cost reduction and efficiency initiatives" focused on reducing fuel consumption, reducing cost per ASK by 4.2% year-on-year in 3Q2013, which was also achieved by a 6.5% decline in average fuel price paid per gallon. LATAM also reduced its headcount by 0.7% year-on-year as of Sep-2013, mostly at TAM, with ex-fuel cost per ASK-equivalent declining 1.4% year-on-year in 3Q2013. [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More