BRASILIA, Brazil (AP) — Brazil's antitrust regulator has approved the merger between TAM Airlines and LAN of Chile.
The merged company will be Latin America's largest airline, known as Latam.
The antitrust regulator says in a Wednesday statement that the two companies must give another airline two takeoff and landing slots at Sao Paulo's international airport for daily flights to Santiago.
Together the two airlines now control 80 percent of the flights between the two cities
The regulator also said the two airlines must belong to only one international alliance. TAM is a member of Star Alliance and LAN is a member of Oneworld.
Plans to merge the biggest airlines in Brazil and Chile were announced in August 2010.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
