LAN Airlines one of Latin America’s biggest carriers has announced that it will suspend direct flights between Santiago and Toronto due to rising fuel prices. The services would be stopped from April 3 and further decisions on other long haul destinations would be taken by the carrier then.
Company representatives who confirmed the news didn’t want to be named.
Last month the company stated it will hike international fares by 8-12% due to the unaffordable aviation fuel prices.
Earlier this month JetBlue Airways, LAN Airlines and LAN’s affiliates LAN Peru, LAN Argentina and LAN Ecuador launched interline agreements to bring new connecting options for travelers flying between major destinations throughout the Americas via New York’s John F. Kennedy International Airport.
LAN Airlines fell 0.9 percent to 12,385 pesos, ending a four-day rising streak at the IPSA (Chile). But on last Tuesday LAN was the top performer in the sector at the NYSE Airline index which closed at a low of $42.32, which represents -1.16% versus its previous day close. The same day AMR that closed the trading session at $6.52 or -3.83% from the previous close had one of the worst showings.
Meanwhile the proposed merger of LAN and Brazil’s TAM airlines could create the Latin America’s largest carrier. But a probe into the merger from Chilean authorities has delayed the process so far, a final verdict is expected to be out on May this year.
Large scale firms like LAN and small enterprises all suffered during and after the catastrophic earthquake which shook Chile on February 2010. But as the nation’s economy stabilizes, businesses will be back on track.
LAN airlines is based in Santiago, Chile and serves 33 international and 16 domestic destinations across the Latin America, US, Canada, Caribbean, Oceania and Europe.
LAN has a modern fleet of 106 (176 orders + 39 options).
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