“Come and be part of a new history,” read the invitation sent by the group consisting of the airline Chilean LAN and Brazilian TAM to the event held this Thursday in the state capital, which revealed his new name: Latam
“This construction begins today, but the launch of the brand to change uniforms, posters. and designs will be a gradual period three years, “ said Jerome Cadier, vice president of Marketing Latam Group He added:.” The fleet aircraft will remain the same. The way we communicate today is very fast, so today’s announcement accelerates the process. “
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In turn, the CEO of TAM, Claudia Sender, said that “today is the day of the announcement, no launch. The first plane with built brand should be ready in the first half 2016 “.
Meanwhile, Enrique Cueto, CEO of Latam, said:” Latam born from a dream of two families: the Amaro and Cueto who dream unite two mainland companies and be a global company. “
Costs and risks
This unification of name both companies would cost about $ 62 million. Mauricio Rolim Amaro, Chairman Group Latam Airlines, had said days ago that “during almost a year were analyzing what would be brand new, but the final announcement was not only to find the name, but also what are other aspects to consider “.
The holding company recognized that its market value as the company faces a major risk if you are not able to implement successfully his new single brand, and also admitted that there is no assurance that the brand name is capable of transfer the full value of the original brands of both airlines.
So said the merged company in a supplement to its 2014 annual report, where more thorough describes the risks to which the company is exposed in both operational and financial terms.
In this regard, one of the sections of the document makes clear reference to the process of unification of brands, which was passed at the annual shareholders meeting held in April, indicating that the market value of the shares of both companies could be affected with this initiative.
“If we fail to successfully implement our growth strategy merged firm, could harm our business and the value of their Das and markets common stock “is the title of chapter reference to this potential risk is made.
” LAN and TAM currently have different value propositions, and can not guarantee that the merged company will be able to transfer the full value of the original brands of LAN and TAM under one brand. The difficulties of implementing the only brand can you prevent the merger is consolidated as the preferred operator, and may adversely affect its business and results of operations and the market value of your Das and common actions, “he said the company in the document.
13 August 2010 LAN Airlines announced to the Superintendency of Securities and Insurance of Chile (SVS) its intention to merge with Brazilian airline TAM Airlines creating LATAM Airlines Group, one of the largest commercial air consortiums Latin America and one of the largest worldwide.
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