IAI reports consistent growth in Q3, some of which is attributed to major awards such as the Carmel project.
TAM Airlines to join Star Alliance
The Chief Executive Board of Star Alliance has unanimously voted to accept Brazilian carrier TAM Airlines, the largest carrier in South America, as a future member.
"Thanks to TAM, Latin America will no longer be a white spot but rather a hot spot on our world map", said Jaan Albrecht, CEO of Star Alliance, at the official joining announcement in São Paulo.
"We are very proud having TAM as a future member, their decision to join Star Alliance clearly reflects the ongoing importance of alliances today," continued Albrecht.
Brazil, as the continent's economic powerhouse, is the largest and most important market for business and leisure travel in Latin America. With a market share of 20 per cent (73.9 per cent among Brazilian carriers) TAM has the largest portion of international travel to and from Brazil and is also the largest network operator on the continent. This clearly fits Star Alliance's strategy of maintaining its status as the leading alliance for the high -value international traveller.
" We are talking about a country and a region of the world which cannot be ignored - as a global alliance we need to be present where it counts. TAM will make us the leading alliance in terms of capacity offered within Brazil and Latin America," Albrecht added.
With 116 aircraft, TAM currently flies to 42 domestic and 16 international destinations thereby operating the largest as well as one of the youngest fleets - the average aircraft age is 5.9 years - of all Latin American airlines.
The integration process is expected to take from 12 to 18 months.
More from Defence Notes
Welcome to Episode 47 of the third series of The Weekly Defence Podcast. Listen on Apple Podcasts, Google Podcasts, Spotify and more.
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