Latam Airlines Group was created out of a $3.5bn stock-swap transaction between Chile's LAN Airlines and Brazil's TAM in 2012. It has gone on to become Latin America's leading airline, offering services to about 140 destinations, employing 44,000 people and transporting 67 million passengers a year. Its creation five years ago led to a significant operational challenge as the companies unified fleets, networks and systems. Only in May 2016 did the first Latam-branded aircraft embark on a commercial flight. Along the way, the group faced a challenging economic environment, particularly in Brazil, where the economy shrank 3.6% in 2016 as the country endured its worst recession on record.
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