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April 11, 2008 |
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TAM SA: Merges Management Structure With Paraguay Operations TAM SA reported the unification of the management structure of the TAM Linhas Aereas and the Paraguayan company, Transportes Aereos Mercosur S.A. in order to strengthen the cohesiveness of the companies making up the TAM Group. TAM Linhas Aereas President, Captain David Barioni Neto, will take over the executive management of Transportes Aereos Mercosur SA, adding to his responsibilities as the Board of Directors' chairperson of the Paraguayan company. All Transportes Aereos Mercosur operations will now fall under the direct management of the respective vice presidencies of TAM Linhas Aereas. Former in charge of the Paraguayan operation, Alberto Fajerman, is leaving the company. Transportes Aereos Mercosur became the new name of TAM Mercosur in March, in keeping with guidelines for brand repositioning aligned with the group's expansion in the international market. Transportes Aereos Mercosur S.A offers flights from Asuncion to destinations in Argentina (Buenos Aires), Bolivia (Santa Cruz de La Sierra and Cochabamba), Brazil, Chile (Santiago), Paraguay (Ciudad del Este) and Uruguay (Montevideo and Punta del Este). It also provides connections from Cordoba (Argentina) to Brazil via Ciudad del Este. It operates direct flights to Rio de Janeiro and Sao Paulo from Buenos Aires and Asuncion, enabling passengers to make connections to a variety of destinations in South America, Europe and the United States, taking advantage of the extensive aerial network of TAM in Brazil and overseas, as well as code-sharing (sharing of seats) with international carriers. Since September of 2003, the TAM Group has come to acquire 94.98% of the shares of Transportes Aereos Mercosur SA. The remaining 5.02% are held by the government of Paraguay. About TAM TAM currently -- http://www.tam.com.br/ -- has business agreements with the regional airlines Pantanal, Passaredo, Total and Trip. As of Jan. 14, the daily flight on the Corumba -- Campo Grande route in Mato Grosso do Sul began to be operated by a partnership with Trip. With the expansion of the agreement with NHT, TAM will now be serving 82 destinations in Brazil, 45 of which with its own flights. In addition, the company is strengthening its presence in Rio Grande do Sul and Santa Catarina. * * * On July 23, 2007, Fitch Ratings affirmed the 'BB' foreign currency and local currency Issuer Default Ratings of TAM S.A. Fitch has also affirmed the 'BB' rating of its US$300 million of senior unsecured notes due 2017 as well as the company's 'A+(bra)' national scale rating and for its first debentures issuance (BRL500 million). Fitch said the rating outlook is stable. |
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