PAL Airlines Boeing 737-322 CC-ACE (msn 24669) SCL (Alvaro Romero/ModoCharlie.com) (first 737-300), originally uploaded by Airliners Gallery.
PAL Airlines (Santiago) PAL has decided to withdraw its appeal before the Supreme Court of Chile against the merger process between LAN Airlines (Santiago) and TAM Linhas Aereas (Sao Paulo). According to the airline, “after detailed analysis of the resolution of the Tribunal de Defensa de la Libre Competencia (TDLC), Chileโs antitrust court, and of LANโs appeal before the Supreme Court, which was submitted after the appeal filed by PAL, the company is convinced that LAN accepts the large majority of the mitigation measures imposed by the TDLC. Furthermore, PAL recognizes that the mitigation measures that LAN is appealing are either not essential, or LAN proposes reasonable alternatives.”
The airline continues, “PAL will abstain from presenting any further objection in Chile or abroad and requested LAN cover the costs incurred by PAL in connection with the proceedings at the TDLC and its appeal before the Supreme Court. Accordingly, and pursuant to a settlement agreement between both companies dated October 25, 2011, LAN agreed to pay PAL 116,091 Unidades de Fomento (approximately equivalent to $5 million).”
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Copyright Photo: Alvaro Romero/ModoCharlie.com.
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