SAAM in Aerosan deal with American Airlines

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SAAM has closed a deal with American Airlines to acquire its 50% stake in Aerosan, a company providing airport services in Chile, Colombia and Ecuador.

The deal calls for a disbursement of US$32m, after which SAAM will control 100% of the shares of Aerosan.

“This transaction will enable us to grow in logistics services for air cargo and airport services where we see opportunities for expansion, optimisation and consolidation in a still fragmented industry. This acquisition is also consistent with our growth strategy and will allow us to roll out our operating model and leverage the capacities we have developed in our businesses,” remarked SAAM’s CEO, Macario Valdés.

With over 40 years’ experience, Aerosan moves more than 300,000 tonnes of import, export and domestic cargo annually. It boasts over 33,000 square metres of infrastructure for providing cargo, ramp, warehouse, charter and passenger services for airlines, importers and exporters at eight airports.

This agreement is subject to the appropriate approval from regulatory authorities.

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