Brazil’s largest airline, TAM said on Monday morning that they are going to pay a huge amount to buy thirty four new aircrafts as it is going to expand operations in its home market and overseas. Sao Paulo-based company which is seeking regulatory approval to combine Chile’s LAN plans to buy 32 A320 family planes from airbus and two Boeings 777 – 300ers.
Tam posted a 7.9 percent gain in fourth Quarter net income as revenue from improving cargo and passengers travel income is enhancing the growth of the airlines economic and other passages. The largest airline of Brazil TAM has shown a good growth in its fourth Quarter of Business. This has been predicted that the current status of the travel industry needs a boom for all the parts of the country.
Tam has got full confidence that the demand for leisure and business travel will grow over the next twenty years at an annual average rate of nine percent for the upcoming twenty years. We are preparing for the next twenty years.
The growing demand for travel industry is going to increase for both the domestic and international which is continued to register the strong growth. This has been announced by the chief executive Libano Barroso in a statement.
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