TAM, Brazil’s largest domestic airline, announced it will buy 37 planes from Airbus to replace its ageing Fokker fleet and expand operations. The company did not say how much it will spend but press reports estimate the final bill will be $2.4 billion. The company, which operates 40 percent of all domestic flights, is looking to expand its international business with larger planes like the Airbus A330. Its main competitor for the overseas routes, Varig, is close to bankruptcy with $3 billion in debt.
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