TAM Receives Loan to Finance Pre-Delivery Payments for 30 Aircraft
December 28 2007 - 8:26AM
PR Newswire (US)
Agreement covers planes scheduled for delivery by Airbus during the
period 2008 to 2010 SAO PAULO, Brazil, Dec. 28
/PRNewswire-FirstCall/ -- TAM (Bovespa: TAMM4 and NYSE: TAM) signed
a loan agreement with the BNP Paribas bank to finance up to US$
117.1 million in pre-delivery payment (PDP) operations for 30
Airbus aircraft contracted with the French company, with confirmed
purchase orders and deliveries scheduled for the period 2008 to
2010. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060418/SPTU001LOGO ) TAM's
fleet plan forecasts that it will close 2008 with 123 aircraft in
operation -- four Boeing B777-300ER aircraft and 119 Airbus
aircraft. The company estimates that it will close 2010 with 136
aircraft, already taking in to account the units that will be
returned to lessors in this period because the respective contracts
will come to an end, the policy of standardization and maintenance
of a young fleet and a low average age. TAM
(http://www.tam.com.br/) has been domestic market leader since July
2003, closing the month of November 2007 with a 49.9% market share.
The company flies to 47 destinations in Brazil. With commercial
agreements signed with regional companies, it reaches 81 different
destinations in Brazil itself. In November, TAM held a 73.2% market
share among Brazilian airlines operating international flights.
International operations include direct flights to eleven
destinations: New York and Miami (USA), Paris (France), London
(England), Milan (Italy), Frankfurt (Germany), Madrid (Spain),
Buenos Aires (Argentina), Santiago (Chile), Caracas (Venezuela) and
Montevideo (Uruguay). With TAM Mercosur, it also serves Asuncion
and Ciudad del Este (Paraguay), Cordoba (Argentina), and Santa Cruz
de la Sierra and Cochabamba (Bolivia), among other South American
cities. In addition, it has codeshare agreements with international
airlines that allow passengers to travel to a wide assortment of
destinations all over the world. TAM was the first Brazilian
airline company to launch a loyalty program. Currently, the program
has over 4.3 million subscribers and has awarded more than 5.0
million tickets.
http://www.newscom.com/cgi-bin/prnh/20060418/SPTU001LOGO
DATASOURCE: TAM CONTACT: Libano Miranda Barroso, TAM Investor
Relations, +011-55-11-5582-9715, fax, +011-55-11-5582-8149, Web
site: http://www.tam.com.br/
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