Lan Airlines SA, Latin America’s biggest carrier by market value, agreed to buy Colombia’s Aerovias de Integracion Regional SA in a $32.5 million deal.

Lan Airlines will acquire 99 percent of the airline known as Aires through the purchase of its controlling shareholders, it wrote in a statement posted today on the website of Chile’s securities regulator.

Lan Airlines, which is expanding in Latin America as regional passenger and cargo traffic recovers, plans to invest $7.72 billion through 2018 to more than double its fleet and agreed to buy Brazil’s Tam SA on Aug. 13. Aires, the second- largest operator in Colombia’s domestic market, would be become part of LATAM Airlines, the company to be formed from the Lan- Tam tie-up.

http://www.bloomberg.com/news/2010-1...lion-deal.html
Well, damn. LAN is doing quite well for themselves. Here's to prayers that LATAM stays with OneWorld...