Lan Airlines and Tam announced plans to merge

. The two Latin American carriers would create an "airline group that would offer seamless passenger and cargo service across the continent and around the world," according to a joint statement. To be named Latam Airlines Group, the new entity would serve 115 destinations in 23 countries with a fleet of more than 220 aircraft. Combined, Lan and Tam in 2009 carried 45 million passengers and generated revenues of US$8.5 billion. The companies said they now are working toward a "binding definitive agreement."