Summary of Proposed Investment
Project Number
24384
Company Name
TAM LINHAS AEREAS S/A
Date SPI Disclosed
Sep 28, 2005
Country
Brazil
Industry
Infrastructure
Projected Board Date
Oct 23, 2005
Status
Completed
Sector
Air Transportation
Department
Regional Industry INF LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Dec 15, 2005
Signed : Dec 16, 2005
Invested : Mar 16, 2006
Project Description
TAM provides scheduled air transportation in both the Brazilian domestic market and the international market through its operating subsidiaries TAM Linhas Aéreas and TAM Mercosur. According to data provided by the Brazilian Department of Civil Aviation (DAC), the company is the leading airline in the domestic market, with a 44.3% market share as of August 31, 2005, as measured in revenue passenger kilometers.
TAM offers frequent and direct flights to and from all major domestic Brazilian airports at competitive prices, serving the largest number of destinations in Brazil of all Brazilian airlines, and operate scheduled passenger and cargo air transport routes to 44 cities, in addition to a further 29 domestic destinations that the company serves through regional alliances with other airlines.
The company also directly serves ten international destinations and provides connections to other destinations through commercial agreements with American Airlines, Air France and certain other airlines. In 2004, the company carried approximately 12 million passengers on domestic flights and 1 million passengers on international flights, averaging 435 take-offs per day.
The project is a $50 million loan comprising:
- a $25 million revolving facility for pre-delivery purchase (PDP) financing of Airbus 320 family aircraft it intends to obtain between 2005 and 2010, and
- a $25 million corporate loan for ongoing operational requirements.
TAM offers frequent and direct flights to and from all major domestic Brazilian airports at competitive prices, serving the largest number of destinations in Brazil of all Brazilian airlines, and operate scheduled passenger and cargo air transport routes to 44 cities, in addition to a further 29 domestic destinations that the company serves through regional alliances with other airlines.
The company also directly serves ten international destinations and provides connections to other destinations through commercial agreements with American Airlines, Air France and certain other airlines. In 2004, the company carried approximately 12 million passengers on domestic flights and 1 million passengers on international flights, averaging 435 take-offs per day.
The project is a $50 million loan comprising:
- a $25 million revolving facility for pre-delivery purchase (PDP) financing of Airbus 320 family aircraft it intends to obtain between 2005 and 2010, and
- a $25 million corporate loan for ongoing operational requirements.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Libano Barroso
Chief Financial Officer
TAM Linhas Aéreas S.A.
Av. Jurandir, 856 Hangar VII Jd. Aeroporto
CEP: 04072-000
São Paulo - SP Brazil
Tel: 011-55-11-5582-8817
Chief Financial Officer
TAM Linhas Aéreas S.A.
Av. Jurandir, 856 Hangar VII Jd. Aeroporto
CEP: 04072-000
São Paulo - SP Brazil
Tel: 011-55-11-5582-8817