Chilean carrier Lan Airline has agreed to purchase regional airline Aerovias de Integracion Regional (Aires) for $32.5 million.
Lan Airlines has agreed to buy 99 % of Aires through the purchase of its controlling share.
Aires is a low-cost airline headquartered in Bogotá, Colombia, which operates scheduled regional domestic and international services, as well as a domestic cargo service. Once the acquisition has been completed, which could be as soon as 30 days, Aires will become part of LATAM Airlines.