TAM to create holding company to separately manage airline and mileage units
TAM CEO, Libano Barroso, stated the airline plans to create a holding company that will separately manage its airline and mileage units, as part of efforts to increase the company's focus and enhance cost efficiency (Dow Jones, 31-Mar-2010). The company, under the proposal, would be operated by former CEO, Marco Antonio Bologna, and will be named TAM SA. The new holding company idea will be voted on by shareholders on 30-Apr-2010.
TAM: "We wanted since 2007 to create a holding with interests in the airline business. First we spun off the mileage unit and now we are enhancing transparency with this plan," Libano Barroso, CEO. Source: Dow Jones, 31-Mar-2010.