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UPDATE 2-Chile high court rejects LATAM route deal with American, BA and Iberia [Reuters]

LATAM AIRLINES GROUP SA (LTM) 
US:NYSE Investor Relations: latamairlinesgroup.net
Company Research Source: Reuters
Chile high court rejects LATAM route deal with American, BA and Iberia - Reuters 2 Min Read SANTIAGO (Reuters) - Chile’s Supreme Court on Thursday struck down a proposed deal on routes between carriers LATAM Airlines, American Airlines, British Airways and Iberia, upending an agreement meant to reshape international air travel in Latin America. The decision comes more than two years after the carriers announced their plans, termed a joint business agreement. At the time it was seen as a bold move to save costs, coordinate prices and run routes more efficiently, but also raised antitrust concerns. “We are in the presence of an agreement between competitors ... who individually each have relevant market shares and who would acquire a joint market power that would be hard to challenge in a post-deal scenario,” four judges wrote in their decision. LATAM said in a statement it was “surprised” by the decision and that it was a “step backward” for Chile. The carrier added it was considering Show less Read more
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